Greenland, the world’s largest island, will pick a new leader as it faces U.S. annexation threats. Sound familiar, Canada?
Driving the news: Greenlanders will be heading to the polls today to elect their next prime minister, a race that has attracted international attention as U.S. President Donald Trump continues to push his case to buy the resource-rich island.
- The No. 1 issue in the election is independence. The main opposition party, Naleraq, wants to quickly gain full independence and cut a defence deal with the U.S.
- Greenland has been semi-autonomous since 1979, though Denmark still controls the island’s defence and foreign affairs, and funds about half of its annual budget.
Why it matters: Just like Canadians, most Greenlanders are not keen on joining the U.S., with one poll showing that 85% of them are against it. Still, the annexation jabs have put pressure on the island’s new leader to balance ambitions of full independence with economic security.
- While the majority of Greenlanders support cutting ties with Denmark, there are concerns about the quality of life deteriorating without financial support.
Bottom line: Greenland is flush with critical minerals and untapped oil, but with a scarce population of just 57,000 and few economic drivers outside of its fishing industry, its ability to become financially independent will hinge on developing those resources.—LA