EU chief vows 'massive' Greenland investments

Davos, Switzerland: EU chief Ursula von der Leyen said Tuesday the bloc plans massive investments in Greenland, as it seeks to counter US President...

Davos, Switzerland: EU chief Ursula von der Leyen said Tuesday the bloc plans "massive" investments in Greenland, as it seeks to counter US President Donald Trump's threats to take the autonomous Danish territory in the name of securing the Arctic.

"We are working on a massive European investment surge in Greenland," von der Leyen told the World Economic Forum in Davos, without giving specifics.

The European Commission chief pledged the bloc would "work with the United States and all partners on wider Arctic security," saying: "This is clearly in our shared interest, and we will step up our investment."

Short of providing figures, von der Leyen suggested the EU could direct part of its ongoing surge in defence spending on a "European icebreaker capability and other equipment vital to the Arctic security."

Von der Leyen warned the United States against hitting "long-standing allies" in Europe with punitive tariffs over Greenland -- recalling the transatlantic trade accord struck last year.