Greenland
(part of the Kingdom of Denmark)
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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. Denmark continues to exercise control of Greenland's foreign affairs in consultation with Greenland's Home Rule Government. The economy remains critically dependent on exports of fish and a substantial subsidy from the Danish Government, which supplies about half of government revenues. The public sector, including publicly owned enterprises and the municipalities, plays the dominant role in the economy. Several interesting hydrocarbon and mineral exploration activities are ongoing. Press reports in early 2007 indicated that two international aluminum companies were considering building smelters in Greenland to take advantage of local hydropower potential. Tourism is the only sector offering any near-term potential, and even this is limited due to a short season and high costs. Air Greenland began summer-season direct flights to the US east coast in May 2007, potentially opening a major new tourism market. Source: The World Factbook, CIA. |
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.