There has been some speculation as to whether Greenland might consider rejoining the European Union, although this seems highly unlikely to occur any time soon. On 4 January 2007, the Danish daily "Jyllands-Posten" quoted the former Danish minister for Greenland, Tom Høyem, as saying "I would not be surprised if Greenland again becomes a member of the EU ... The EU needs the Arctic window and Greenland cannot alone manage the gigantic Arctic possibilities". The debate has been reignited in light of the 2008–2011 Icelandic financial crisis. The EU Common Fisheries Policy is an important reason why Greenland, Norway and Iceland stay outside the EU. There was hope that the Icelandic negotiations on EU membership 2011–2013 could create an exception to the policy but the negotiations never got that far. "Gigantic Arctic possibilities" refers to natural resources such as mining. There is a very large iron deposit, Isua Iron Mine. Greenland can not finance the large cost of developing it and does not have such experience, so it has contracted a foreign company, which did not start to develop it because of low iron prices.