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Denmark's new government vows to uphold Greenland's right to self-determination

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Denmark's new government vows to uphold Greenland's right to self-determination

2026-06-03 14:24 Last Updated At:15:12

Denmark's new four-party government said Tuesday that it will stand firm on sovereignty, territorial integrity and the right to self-determination, as it outlined its policy position on Greenland in a new political program.

The policy document, published by the Danish Prime Minister's Office, said Greenland has been subjected to "unacceptable pressure" recently. The government said it will, together with Greenland's autonomous government, stand firm on the basic principles of sovereignty, territorial integrity and the right of every people to self-determination.

The document said the necessary military buildup in the Arctic will continue in close cooperation within the Kingdom of Denmark and with allies.

In a separate chapter on what the new government described as an "equal community of the realm," the document said it seeks a strong, equal and modern cooperation between Greenland and Denmark based on respect.

U.S. President Donald Trump previously declined to rule out military action to gain control of Greenland, a self-governing territory within the Kingdom of Denmark. However, U.S. Ambassador to Denmark Ken Howery said in May at the opening of a new U.S. consulate building in Nuuk, Greenland's capital, that Trump had "taken the use of force off the table."

The policy document was signed by Mette Frederiksen of the Social Democrats, Pia Olsen Dyhr of Green Left (former Socialist People's Party), Lars Lokke Rasmussen of the Moderates and Martin Lidegaard of the Social Liberal Party.

Frederiksen presented the political program on Tuesday following prolonged coalition negotiations after Denmark's parliamentary election in March.

The program also includes measures to make food cheaper, increase support for pensioners with the lowest incomes, lower corporate taxes, promote Danish investment, upgrade schools, introduce a minimum age of 15 for social media use and continue support for Ukraine.

Denmark's new government vows to uphold Greenland's right to self-determination

Denmark's new government vows to uphold Greenland's right to self-determination

Gold became the largest component of global official reserves in 2025, surpassing holdings of U.S. Treasuries and the euro as rising prices boosted its share, the European Central Bank (ECB) said Tuesday.

Gold made up 27 percent of the total official foreign reserves, including foreign exchange and gold holdings, at the end of 2025, compared with 22 percent for U.S. Treasuries and 15 percent for the euro, according to an ECB report.

Data released by the ECB showed that global central bank gold purchases surged in 2022, peaked in 2024, and then eased in 2025.

Gold purchases by central banks fell to around 850 tons, below the average level between 2022 and 2024, which topped 1,000 tons. Despite historically high prices, demand for gold remained elevated.

The increase in gold's share of official reserves was driven largely by soaring prices, the ECB said. Gold prices soared by 60 percent and 30 percent in nominal terms in 2025 and 2024, respectively.

Apart from diversification, central banks use gold as a hedge against geopolitical risk. However, compared to fiat currencies, gold's status as part of reserves has limitations, the ECB report argued, citing price volatility, the inability to be remunerated, high storage costs, and inelastic supply.

Gold surpasses US Treasuries, euro in global official reserves: ECB

Gold surpasses US Treasuries, euro in global official reserves: ECB

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