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Mr Grimsson added that Brexit was good for Iceland's status within the international community."Our significance with regards to relations with our neighbours as well as the member states of the EU has undergone positive changes," he said.At the same time it received a large part of its science, development and agricultural funding from the EU.

"You can't join the EEA unless you have full freedom of movement. "They have deliberately set out to terrify people into believing the country had been stolen from them by foreigners." Meanwhile Switzerland, which announced in 2005 it would only accept skilled immigrants, consequently lost some of the benefits of EU membership - including exporting services, which makes up a large part of the British economy.Professor Dougan, who is funded by Liverpool University and works independently of the European Union, said the size of the British economy will not be an automatic bargaining chip with the EU. The Americans can't have access to the single market without freedom of movement, and they're the biggest economy in the world," he said.But Michael Dougan, professor of EU law at Liverpool University, said that even if such a trade bloc was likely, it was "not nearly as desirable as what we are just giving up." He said that membership of the EEA would require the unanimous consent of all 27 member states, the European Parliament, and the four European Free Trade Association states, Norway, Switzerland, Iceland and Liechtenstein. "And being part of the EEA involves the free movement of people anyway.How Boris Johnson can stand up there and accuse European migrants of bringing problems, and promise free trade..."So basically, goodbye to the single market, particularly in services.

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That's a disaster." Joining the EEA or trading within north Atlantic countries would be no real replacement for leaving the EU, added Professor Dougan.