Greenland

Greenland decides against issuing its own banknotes

According to a Siku News article dated 26 October 2010, Greenland’s government has decided against issuing its own banknotes—similar to how the Faroe Islands issues its own notes equivalent to the Danish krone— an idea initially floated by the former Siumut government and laid down in “The Law on Currency Notes in Greenland” in 2006. The new government headed by the Inuit Ataqatigiit party has decided that the country can’t afford such a symbolic gesture. “Society has much greater problems than using money to introduce Greenland currency,” said Minister for Finance Palle Christensen earlier this year. The 2006 law was annulled at the government’s request.