Faroe Islands. Political work was dominated during the year by negotiations with Denmark on independence. When the talks began in March, the national government (the self-governing government) proposed that independence should be followed by a 15-year settlement of Denmark’s financial contribution to the Faroe Islands. However, the Danish government refused to discuss a longer settlement period than four years. The tone of the conversations therefore became harsh from the start. It was sharpened when Denmark declared that the Faroe Islands do not have the right to hold talks with the UN or NATO on their own. In October, the government decided to suspend the negotiations.
The opposition in the Faroe Islands demanded that the national government resign and announce new elections when its line of independence had failed. Instead, the government proposed a new policy. This means that the Faroe Islands first become financially independent of Denmark and assume responsibility for foreign and defense issues as well as the judiciary before the kingdom becomes independent. A referendum on this line was announced in the Faroe Islands until April 2001.
- ABBREVIATIONFINDER: Offers three letter and two letter abbreviations for the country of Faroe Islands. Also covers country profile such as geography, society and economy.
After a strike for almost two months in the spring, the elementary school teachers received a three-year agreement that gave them a 9% increase in salary.
In August, licenses for sample drilling for oil were distributed on the Faroese seabed. Twelve companies will participate in the drilling, which is scheduled to start in June 2001.
For the third year in a row, public finances went into surplus of about half a billion Danish kroner. The National Board therefore discussed a transitional fund, which will cover the reduction of the Danish financial support.
The Faroe Islands trade and customs agreement with the EU was extended in 2005 to the fishing industry as well. Fishing companies in the islands can process foreign fish and resell it within the EU without paying extra duty. However, there was a crisis in relation to the EU when the Faroe Islands in 2010 on their own greatly increased their mackerel and herring quotas. In 2013, Faroese mackerel and herring fish were excluded from all Norwegian and EU ports and from exports to Norway and the EU. The situation was uncomfortable for Denmark, which was allowed to participate in EU sanctions against part of its own kingdom. The Faroese then sold to African and Asian countries and not least Russia. They did not participate in the boycotts of Russia in the Western countries, and in turn were not affected by Russia’s halt to imports from the west. In 2014, the Faroe Islands signed a five-year agreement with the EU and Norway and the sanctions were lifted.
At the end of 2017, the fishing nations around the Arctic agreed to halt all commercial fishing in the Arctic waters for the time being. In line with global warming, fish stocks have decreased in size and fishing hours have begun to take new paths. During the stop, the nations will conduct joint research to find out more about the ecosystems in the area in order to eventually be able to resume fishing. The agreement includes Canada, the EU, China, Denmark (Greenland and the Faroe Islands), Iceland, Japan, Norway, South Korea, Russia and the USA.
According to COUNTRYAAH, the population of Faroe Islands in 2000 was 46,624, ranking number 210 in the world. The population growth rate was 0.480% yearly, and the population density was 33.4778 people per km2.