Revenues in the raw materials sector would, after reaching a certain amount, lead to a reduction of the annual block grant from the Danish state to Greenland, which is currently of about EUR 500 million. An amount which could appear as a drop in the Arctic Ocean compared to the EU’s annual budget. If incomes from the raw materials sector were not as promising as expected or took much longer time to be realised, could this reduction of the annual block grant from the Danish state take place with a higher contribution from the EU in the budget of its Partnership Agreement with Greenland? A stronger financial involvement of the European Union in Greenland, in a context where major powers such as China have demonstrated a pragmatic approach in their interest for the Arctic island, would be more than welcome to secure a healthy Greenlandic economy on the long term. The joint political declaration between the Commission, Greenland and Denmark, which is to be renewed, is in that context, of great importance. Sectors such as tourism have an immediate and long-term growth potential. Infrastructures remain however, once again, a key if Greenland is to succeed.
Posted on: Tue, 28 Oct 2014 18:02:46 +0000
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