Danish pension fund to sell $100 million in Treasurys, citing ‘poor’ U.S. government finances
Danish pension operator AkademikerPension said it is exiting U.S. Treasurys because of finance concerns as Denmark spars with President Donald Trump over his threats to take over Greenland.
Anders Schelde, AkademikerPension’s investing chief, said the decision was driven by what it sees as “poor [U.S.] government finances” amid America’s debt crisis. But it also comes as tensions escalate between the U.S. and Denmark after Trump’s latest threats to tariff European countries if Greenland, an arctic territory of Denmark, isn’t sold to the U.S.
“It is not directly related to the ongoing rift between the [U.S.] and Europe, but of course that didn’t make it more difficult to take the decision,” Schelde said in a statement to CNBC.
The fund currently has a position of around $100 million in U.S. Treasurys, an AkademikerPension spokesperson confirmed to CNBC. The academics-focused fund plans to have exited that holding by the end of the month.
Forget Greenland. It’s Curtains for the EU If It Alters Its Rules to Appease Ukraine.
They’re all banging on about Greenland right now, but what does it say about the Eurozone’s political, moral, and financial prowess that they will lecture Trump about NATO while corroding their own union with illegitimate membership rules changes to accommodate one of the most corrupt nations in the region?
Yep, the EU is STILL trying to subsume Ukraine. The same tactic that started the war over there. And Ukraine’s long-standing reputation as one of the most corrupt countries in Europe has only gotten worse under President Volodymyr Zelensky.
Pentagon has made no plans to invade Greenland.
Pentagon officials plan for all sorts of military contingencies, but they have not yet been asked to draw up an invasion of Greenland or the aftermath of such an operation.
Europe claims betrayal by Trump.
DAVOS, Switzerland — President Donald Trump’s pledges to provoke a sweeping tariff fight with Europe to get his way in taking control of Greenland has left many of America’s closest allies warning of a rupture with Washington that would shatter the NATO alliance that had once seemed unshakable.
The European Union’s top official on Tuesday called Trump’s planned new tariffs over Greenland a “mistake” and questioned Trump’s trustworthiness. French President Emmanuel Macron said the EU could retaliate against its long-standing ally by deploying one of its most powerful economic tools, known colloquially as a trade “bazooka.”
Trump prides himself on ratcheting up major maximum pressure to try and negotiate through a position of strength. He is slated to leave Tuesday — the anniversary of his inauguration — for the World Economic Forum in Davos, Switzerland, a venue that could give him the chance to defuse tensions as quickly as he has sought to stir them up.
Trump remains defiant on Greenland takeover.
- President Donald Trump on Tuesday said “you’ll find out” in response to a question of how far he’d go in his quest to acquire Greenland.
- Trump has long sought to acquire Greenland, the self-governing island territory of Denmark.
- Trump’s persistent pursuit of Greenland has roiled European leaders, who Trump said he will meet with this week at the World Economic Forum in Davos, Switzerland.