Greenland–European Union relations Greenland's fishing fleet. However, this deal was struck down by the European Court of Auditors, who felt the amount the EU was paying was too high for the quantity of fish caught. Greenland originally joined the then-European Communities with Denmark in 1973. At that time Greenland had no autonomy from Denmark, which it gained in 1979. Greenland achieved some special treatment such as restrictions on business for non-residents and fisheries. Greenland left in 1985, following a referendum in 1982 with 53% voting for withdrawal after a dispute over fishing rights. The Greenland Treaty formalized their exit. There has been some
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.