 Collapse of the fishing industry .19701 JanuaryIceland joins the European Free Trade Association .1972 Exclusive economic zone extended to 50 nautical miles .197323 JanuaryVolcanic eruption in Vestmannaeyjar .1975 Exclusive economic zone extended to 200 nautical miles .19801 AugustVigdís Finnbogadóttir becomes president of Iceland,
<meaning-changed>  Collapse of the fishing industry .19701 JanuaryIceland joins the European Free Trade Association .1972 Exclusive economic zone extended to 50 nautical miles .197323 JanuaryVolcanic eruption in Vestmannaeyjar .1975 Exclusive economic zone extended to 200 nautical miles .19801 AugustVigdís Finnbogadóttir becomes president of Iceland,
 Collapse of the fishing industry .19701 JanuaryIceland joins the European Free Trade Association . |- |style="text-align: right;"|1972|||| Exclusive economic zone extended to 50 nautical miles .197323 JanuaryVolcanic eruption in Vestmannaeyjar .1975 Exclusive economic zone extended to 200 nautical miles .19801 AugustVigdís Finnbogadóttir becomes president of Iceland,