Greenland–European Union relations Greenland–European Union relations Greenland, an autonomous constituent country of the Kingdom of Denmark (which also includes the countries of Denmark and Faroe Islands) is one of the EU countries’ overseas countries and territories (OCT). Greenland receives funding from the EU for sustainable development and has signed agreements increasing cooperation with the EU. Greenland joined the then European Community in 1973 as a county along with Denmark, but after gaining autonomy with the introduction of home rule within the Kingdom of Denmark, Greenland voted to leave in 1982 and left in 1985, to become an OCT. The main reason for leaving
Greenland a tight fiscal policy since the late 1980s, which has helped create surpluses in the public budget and low inflation. Since 1990, Greenland has registered a foreign-trade deficit following the closure of the last remaining lead and zinc mine that year. More recently, new sources of ruby in Greenland have been discovered, promising to bring new industry and a new export from the country. (See Gemstone industry in Greenland). Air transportation exists both within Greenland and between the island and other nations. There is also scheduled boat traffic, but the long distances lead to long travel times and low frequency.