Greenland

Kalaallit Nunaat Greenland
Constituent part of the ‌Kingdom of Denmark


Anthem Nunarput utoqqarsuanngoravit


Capital	Nuuk

Government	Autonomous constituent country and parliamentary democracy
Monarch
- 1953-1972	Frederik IX
- From 1972	Margrethe II

Legislature	Landsting

History
- June 5, 1953	Integrated with Denmark
- January 1, 1973	Entered the EC
- May 1, 1979	Self-rule
- January 1, 1985	Left the EC
- June 21, 2009	Self-government

Area	2,166,086 km²

Population
- 2010	56,452
Density	0/km²

GDP	2010 (PPP)
- Total	US$ 1.1 billion
- Per capita	US$ 20,000

Currency	Danish krone

Denmark
v

Greenland is a constituent part of the Kingdom of Denmark located in North America. From being a dependency to the Kingdom of Denmark, Greenland became an integrated part of Denmark in 1953, and also became a part of the European Communities in 1973 when Denmark joined. Greenland attained self-rule within the kingdom in 1979 and following a referendum it left the European Communities 1985. Becoming the second territory to leave the future European Union after Algeria gained independence from France in the 1960s. In 2009 it attained further autonomy within the kingdom by a new self-government act.

Background

Greenland, the world's largest island, is about 81% ice capped. Vikings reached the island in the 10th century from Iceland; Danish colonization began in the 18th century, and Greenland was made an integral part of Denmark in 1953. It joined the European Community (now the EU) with Denmark in 1973 but withdrew in 1985 over a dispute centered on stringent fishing quotas. Greenland was granted self-government in 1979 by the Danish parliament; the law went into effect the following year. Greenland voted in favor of increased self-rule in November 2008 and acquired greater responsibility for internal affairs in June 2009. Denmark, however, continues to exercise control of Greenland's foreign affairs, security, and financial policy in consultation with Greenland's Home Rule Government.^[1]

Economy

The economy remains critically dependent on exports of shrimp and fish and on a substantial subsidy - about $650 million in 2009 - from the Danish Government, which supplies nearly 60% of government revenues. The public sector, including publicly owned enterprises and the municipalities, plays the dominant role in Greenland's economy. Greenland's GDP contracted about 2% in 2009 as a result of the global economic slowdown. Budget surpluses turned to deficits beginning in 2007 and unemployment has risen. During the last decade the Greenland Home Rule Government (GHRG) pursued conservative fiscal and monetary policies, but public pressure has increased for better schools, health care and retirement systems. The Greenlandic economy has benefited from increasing catches and exports of shrimp, Greenland halibut and, more recently, crabs. Due to Greenland's continued dependence on exports of fish - which account for 82% of exports - the economy remains very sensitive to foreign developments. International consortia are increasingly active in exploring for hydrocarbon resources off Greenland's western coast, and international studies indicate the potential for oil and gas fields in northern and northeastern Greenland. In May 2007 a US aluminum producer concluded a memorandum of understanding with the Greenland Home Rule Government to build an aluminum smelter and a power generation facility, which takes advantage of Greenland's abundant hydropower potential. Within the area of mining, olivine sand continues to be produced and gold production has resumed in south Greenland. Tourism also offers another avenue of economic growth for Greenland, with increasing numbers of cruise lines now operating in Greenland's western and southern waters during the peak summer tourism season.^[2]