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Greenland to get new money


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The autonomous region of Greenland will introduce its own currency. That is one of the results of the Denmark-Greenland-Faroes Summit earlier this week.

 

Greenland (Kalaallit Nunaat) is part of the Kingdom of Denmark but has been autonomous for almost 30 years. Currently it uses the Danish krone, but in the relatively near future - probably in 2008 - it will start using its own currency. Don't know whether it will follow the example of the Faroes (Føroyar) which issues its own notes but uses Danish coins, or whether both notes and coins will be "Greenlandized".

 

Here is an article (in German) about the summit:

http://derstandard.at/?url=/?id=2496466

 

By the way, Greenland had its own coins until about 40 years ago, which AFAIK circulated along Danish pieces. Will be interesting to see what they come up with now.

 

Christian

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Interesting. If Denmark ever switches to the Euro would they make separate Greenland coins for that as well?

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That's really nice. A whole new country set of coins available from the beginning. I wish I had started with the Euro when they first were available.

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Interesting.  If Denmark ever switches to the Euro would they make separate Greenland coins for that as well?

Guess that is a hypothetical question. :ninja: But Greenland is not part of the European Union, so some kind of currency agreement would have to be made in such a case.

 

Christian

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Guess that is a hypothetical question. :ninja:  But Greenland is not part of the European Union, so some kind of currency agreement would have to be made in such a case.

 

Christian

So Denmark could end up with the Euro and Greenland with the Krone?

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So Denmark could end up with the Euro and Greenland with the Krone?

Frankly, I have no idea. Denmark is and will continue to be a non-euro country, so it is not very likely that Greenland will have a different currency than Denmark itself.

 

Christian

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Here is some more info - all in Danish though. This recent article http://knr.gl/nyheder/nyhedsarkiv/nyhed_fr...Hash=862c1d8c8d says that changing Danish krone notes into Greenlandish krone notes will be free of charge. At the bottom there are links to previous articles:

 

"Natur og mytologi skal på pengesedler", i.e. nature and mythology will be the themes for Greenland's notes.

"Grønlandske pengesedler på vej", i.e. Greenlandish notes on the way.

The last sentence of that article refers to coins, but I think it just says that no changes are planned in that regard. ("Mønterne vil fortsat være de samme.")

 

So it seems that, like the Faroe Islands, Greenland will have its own paper money (at parity with the Danish krone) but continue to use the DKK coins.

 

Christian

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