Sovereign (Denmark) ApS
C/O CPH Revision ApS
Center Boulevard 5
2300 Copenhagen S
Telephone Number: +45 4492 0127
Fax Number: +45 4369 0127
Jan Breum Eriksen, Kim Norup, Diane Dentith
Background: Once the seat of Viking raiders and later a major north European power, Denmark has evolved into a modern, prosperous nation that is participating in the political and economic integration of Europe. So far, however, the country has opted out of some aspects of the European Union's Maastricht Treaty, including the new joint monetary system.
Location: Northern Europe, bordering the Baltic Sea and the North Sea, on a peninsula north of Germany.
Economy - overview: This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, and high dependence on foreign trade. Denmark is a net exporter of food. The centre-left coalition government is concentrating on reducing the unemployment rate and the budget deficit as well as following the previous government's policies of maintaining low inflation and a current account surplus. The coalition also vows to maintain a stable currency. The coalition has lowered marginal income tax rates while maintaining overall tax revenues; boosted industrial competitiveness through labour market and tax reforms; increased research and development funds; and improved welfare services for the neediest while cutting paperwork and delays. Denmark chose not to join the 11 other E.U. members who launched the euro on 1 January 1999.
Denmark is one hour ahead of Greenwich Mean Time (GMT).