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- U.S. President has said that he wants to buy Greenland.However,the Denmark government dismissed his statement and said that Greenland was not for sale.
- Greenland is the world’s largest island.It is an autonomous Denmark dependent territory with limited self-government and its own parliament.
- Denmark contributes two thirds of Greenland’s budget revenue while the rest comes mainly from fishing.
- The USA has long seen Greenland as strategically important and had established a radar base at Thule at the start of the Cold War.
- The potential oil, gas and rare earth mineral reserves have also attracted prospecting firms.
- Further,there have been several instances in the history of nations and especially the US acquiring foreign territory against payment.
- One famous example is the purchase of Alaska which Russia transferred to the US in 1867 for $7.2 million.In 1819,the US had also bought Florida from Spain.