Denmark

The Kingdom of Denmark (Danish: Kongeriget Danmark) is geographically the smallest Nordic country and is part of the European Union. It is located at {{coor dms|56|00|00|N|10|00|00|E|}} in Scandinavia, which is in northern Europe. Denmark borders the Baltic Sea and the North Sea, and consists of a peninsula attached to Northern Germany named Jutland (Jylland in Danish), the islands Funen (Fyn), Zealand (Sjælland), Bornholm and many smaller islands, the waters of which are often referred to as the Danish Archipelago. Denmark is north of Germany, southwest of Sweden and south of Norway. Greenland and the Faroe Islands are Crown territories of Denmark, each with political home rule.

Economy

Main article: Economy of Denmark

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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 has a comfortable balance of payments surplus.

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The Danish economy is highly unionized; 75% of its labour force http://www.iht.com/articles/2005/01/10/business/unions2.html are members of a union in the Danish Confederation of Trade Unions. Relationships between unions and employers are cooperative: unions have a day-to-day role in managing the workplace, and their representatives sit on most companies' board of directors. Rules on work schedules and pay are negotiated between unions and employers, with minimal government involvement.

Related Topics:
Danish Confederation of Trade Unions - Board of directors

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The government has been very successful in meeting, and even exceeding, the economic convergence criteria for participating in the third phase (a common European currency) of the Economic and Monetary Union (EMU), but Denmark, in a September 2000 referendum, reconfirmed its decision not to join the 12 other EU members in the euro. Even so, the Danish currency remains pegged to the euro.

Related Topics:
Economic and Monetary Union - Referendum - Euro

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Denmark has also placed first on the Economist Intelligence Unit's "e-readiness" rankings for the past two years. "A country's "e-readiness" is a measure of its e-business environment, a collection of factors that indicate how amenable a market is to Internet-based opportunities."

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