Arctic Yearbook 2014 - Page 231

231 Arctic Yearbook 2014 responsibilities including ownership of subsurface resources. The Act (2009), which sets out a complex financial arrangement, links economic independence with hydrocarbon and mineral development. As a highly simplistic explanation, Greenland receives a subsidy of DKK 3,439.6 million (adjusted annually based on price and wage indices) and revenues accrued from subsurface resource extraction go toward reducing the subsidy. Once the subsidy is reduced to zero, the Greenlandic government may enter into negotiations with Denmark regarding future financial relations and the introduction of independence from Denmark. However, whereas Denmark has devolved duties to Naalakkersuisut, Greenland has ce