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DENMARK
Year of EU entry 1973
Political system Constitutional monarchy
Capital city Copenhagen
Total area 43,094 km2
Population 5.4 million
Currency Danish krone |
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Overview
Denmark consists of the peninsula of Jutland (Jylland) and some 400 named islands. Of these, 82 are inhabited, with the largest being Funen (Fyn) and Zealand (Sjælland).
Denmark has a large fishing industry and possesses a merchant fleet of considerable size. The leading manufactures include food products, chemicals, machinery, metal products, electronic and transport equipment, beer and paper and wood products. Tourism is also an important economic activity.
From the 8th to the 10th century, the Danes were known as Vikings. Together with Norwegians and Swedes, they colonised, raided and traded in all parts of Europe. Modern-day Danes pride themselves in their country's welfare state with its widespread social protection for everyone.
Denmark is a constitutional monarchy, ruled today under the 1953 constitution. The single-chamber parliament or Folketing consists of 179 elected members.
Among the best-known Danes are the writer Hans Christian Andersen, famous for his fairy tales, the author Karen Blixen and the designer Arne Jacobsen. Danish cinema has gained international recognition thanks largely to the experimental film director Lars von Trier.
Specialities of Danish cooking include open sandwiches, smørrebrød, boiled or sugar browned potatoes, boiled red cabbage, roast pork or roast duck.
Economy
This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, a stable currency, and high dependence on foreign trade. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. Government objectives include streamlining the bureaucracy and further privatisation of state assets. The government has been successful in meeting, and even exceeding, the economic convergence criteria for participating in the third phase (a common European currency) of the European Economic and Monetary Union (EMU), but Denmark has decided not to join 12 other EU members in the euro. Nonetheless, the Danish krone remains pegged to the euro. Economic growth gained momentum in 2004 and the upturn accelerated through 2005. Because of high GDP per capita, welfare benefits, a low Gini index, and political stability, the Danish people enjoy living standards topped by no other nation. A major long-term issue will be the sharp decline in the ratio of workers to retirees.
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