History of the Faroe Islands - AbsoluteAstronomy.com

Pre-Norse history

The early details of Faroese
Faroe Islands
The Faroe Islands are an island group situated between the Norwegian Sea and the North Atlantic Ocean, approximately halfway between Scotland and Iceland. The Faroe Islands are a self-governing territory within the Kingdom of Denmark, along with Denmark proper and Greenland...

history are rather nebulous. It is possible that Saint Brendan, an Irish monk

Monk

A monk is a person who practices religious asceticism, living either alone or with any number of monks, while always maintaining some degree of physical separation from those not sharing the same purpose...

(a Papar

Papar

The Papar were, according to early Icelandic historical sources, a group of Irish or Scottish monks resident in parts of Iceland at the time of the arrival of the Norsemen...

) sailed past the islands during his North Atlantic voyage in the 6th century. He saw an 'Island of Sheep' and a 'Paradise of Birds', which some say could be the Faroes with its dense bird population and sheep.

In the late 7th century to early 8th century the islands were visited by monks from Ireland

Ireland

Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...

, possibly looking for converts or solitude. Little is known about them, except that they used the Faroes (and Iceland

Iceland

Iceland , described as the Republic of Iceland, is a Nordic and European island country in the North Atlantic Ocean, on the Mid-Atlantic Ridge. Iceland also refers to the main island of the country, which contains almost all the population and almost all the land area. The country has a population...

) as a hermit

Hermit

A hermit is a person who lives, to some degree, in seclusion from society.In Christianity, the term was originally applied to a Christian who lives the eremitic life out of a religious conviction, namely the Desert Theology of the Old Testament .In the...

age. As these monks were celibate and lived in all-male communities, their populations were not self sustaining.

The earliest text which is believed to include a description of the Faroe Islands, was written by an Irish monk in the Frankish Kingdom named Dicuil

Dicuil

Dicuil, Irish monk and geographer, born in the second half of the 8th century.-Background:The exact dates of Dicuil's birth and death unknown...

, who wrote about the countries in the north. Dicuil had met a "man worthy of trust" who related to his master, the abbot

Abbot

The word abbot, meaning father, is a title given to the head of a monastery in various traditions, including Christianity. The office may also be given as an honorary title to a clergyman who is not actually the head of a monastery...

Sweeney (Suibhne), how he had landed on the Faroe Islands after having navigated "two days and a summer night in a little vessel of two banks of oars." Around A.D. 825, Dicuil wrote a book, Liber de Mensura Orbis Terrae, (Measure/description of the sphere of the earth) in which he states:

"Many other islands lie in the northerly British Ocean. One reaches them from the northerly islands of Britain, by sailing directly for two days and two nights with a full sail in a favourable wind the whole time.... Most of these islands are small, they are separated by narrow channels, and for nearly a hundred years hermits lived there, coming from our land, Ireland
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...

, by boat. But just as these islands have been uninhabited from the beginning of the world, so now the Norwegian pirates
Piracy
Piracy is an act of robbery or criminal violence at sea. The term can include acts committed on land, in the air, or in other major bodies of water or on a shore. It does not normally include crimes committed against persons traveling on the same vessel as the perpetrator...

have driven away the monks; but countless sheep and many different species of sea-fowl are to be found there..."

The physical description of these islands and the travel time described, fits the Faroe Islands, and the name Faeroe is thought to mean Sheep Islands. According to this, the first settlers in the Faroe Islands were Irish monks, who introduced sheep and oats

OATS

OATS - Open Source Assistive Technology Software - is a source code repository or "forge" for assistive technology software. It was launched in 2006 with the goal to provide a one-stop “shop” for end users, clinicians and open-source developers to promote and develop open source assistive...

to the Faroe Isles. Recent pollen

Pollen

Pollen is a fine to coarse powder containing the microgametophytes of seed plants, which produce the male gametes . Pollen grains have a hard coat that protects the sperm cells during the process of their movement from the stamens to the pistil of flowering plants or from the male cone to the...

analysis showing that oats

OATS

were grown in the Faroes about the year 650 A.D supports this theory.

The Faroese ethnic group is of primarily Norse

Scandinavia

Scandinavia is a cultural, historical and ethno-linguistic region in northern Europe that includes the three kingdoms of Denmark, Norway and Sweden, characterized by their common ethno-cultural heritage and language. Modern Norway and Sweden proper are situated on the Scandinavian Peninsula,...

Viking

The term Viking is customarily used to refer to the Norse explorers, warriors, merchants, and pirates who raided, traded, explored and settled in wide areas of Europe, Asia and the North Atlantic islands from the late 8th to the mid-11th century.These Norsemen used their famed longships to...

descent and Scottish

Scotland

Scotland is a country that is part of the United Kingdom. Occupying the northern third of the island of Great Britain, it shares a border with England to the south and is bounded by the North Sea to the east, the Atlantic Ocean to the north and west, and the North Channel and Irish Sea to the...

Pre-14th century

Little is known about Faroese history up until the 14th century.
The name of the islands is first recorded on the Hereford map (1280), where they are labelled farei.
The name has been explained as derived from a Celtic term for "far islands", but in popular etymology it has long been understood as based on Old Norse fár "livestock", thus fær-øer "sheep islands".

The main historical source for this period is the 13th century work Færeyinga Saga

Færeyinga Saga

The Færeyinga Saga , the Norse saga of Faroemen, is the story of how the Faroes were converted to Christianity and became a part of the Kingdom of Norway.-Summary:It was written in Iceland shortly after 1200...

(Saga of the Faroese), and it is disputed as to how much of this work is historical fact.
Færeyinga Saga only exists today as copies in other sagas. In particular three manuscripts called Óláfs saga Tryggvasonar

Óláfs saga Tryggvasonar

Óláfs saga Tryggvasonar or the Saga of Óláfr Tryggvason can refer to several different kings' sagas.* Óláfs saga Tryggvasonar by Oddr Snorrason* Óláfs saga Tryggvasonar by Gunnlaugr Leifsson...

, Flateyjarbók

Flateyjarbók

The Flatey Book, is an important medieval Icelandic manuscript. It is also known as GkS 1005 fol. and by the Latin name Codex Flateyensis.- Description :...

and one registered as AM 62 fol.

According to Flateyjarbók

Flateyjarbók

The Flatey Book, is an important medieval Icelandic manuscript. It is also known as GkS 1005 fol. and by the Latin name Codex Flateyensis.- Description :...

Grímr Kamban

Grímur Kamban was, according to the Færeyinga saga, the first man to set foot in the Faroe Islands. The name was written Grímr in Old Norse and is often referred to as Grim in the English literature....

settled in Faroe when Harald Hårfagre

Harald I of Norway

Harald Fairhair or Harald Finehair , , son of Halfdan the Black, was the first king of Norway.-Background:Little is known of the historical Harald...

was king of Norway (872 – 930). But this version does not correspond with the above mentioned writings of Dicuil

Dicuil

Dicuil, Irish monk and geographer, born in the second half of the 8th century.-Background:The exact dates of Dicuil's birth and death unknown...

. Ólafs Saga Tryggvasonar, however, does. According to that manuscript, Færeyinga Saga starts like this:

There was a man named Grímr Kamban; he first settled in Faroe. But in the days of Harold Fairhair many men fled before the king’s overbearing. Some settled in Faroe and began to dwell there, and others sought to other waste lands.

According to this many men did indeed flee from Harald Hårfagre

Harald I of Norway

Harald Fairhair or Harald Finehair , , son of Halfdan the Black, was the first king of Norway.-Background:Little is known of the historical Harald...

. But the text suggests that Grímr Kamban settled in the Faroes some time before. Maybe even hundreds of years. His first name Grímr is Norse. But his last name Kamban (Cambán) is Gaelic. He may have been of mixed Norse and Irish origin and come from a settlement in the British isles

Great Britain

Great Britain or Britain is an island situated to the northwest of Continental Europe. It is the ninth largest island in the world, and the largest European island, as well as the largest of the British Isles...

; a so-called Norse-Gael. These Norse-Gaels had intermarried with the local Gaelic

Goidelic languages

The Goidelic languages or Gaelic languages are one of the two branches of the Insular Celtic languages, the other consisting of the Brythonic languages. Goidelic languages historically formed a dialect continuum stretching from the south of Ireland through the Isle of Man to the north of Scotland...

speaking people in Britain, a feature that is still visible in the Faroese genes today, which prove to be mixed Scandinavian-British.

If many men settled in the Faroes in the reign of Harald Hårfagre, people must have known about the Faroes. And therefore someone may have settled or visited there some time before.

The fact that settlers from Norway

Norway

Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...

also settled in the Faroe Islands is proven by a runestone (see Sandavágur stone
Sandavágur stone
The Sandavágur stone is a runestone that was discovered in the town of Sandavágur on the Faroe Islands in 1917. The stone can today be seen in the Sandavágur Church....

) found in the village of Sandavágur

Sandavágur

The town of Sandavágur lies on the south coast of the Faroese island of Vágar, and has been voted the most well-kept village in the Faroes twice. The name Sandavágur means sandy creek and refers to the beach down by the inlet. From one point in Sandavágur you can get a view of all the southern...

on Vágoy Island. It says: I.e. "Thorkil Onundsson, eastman (Norwegian) from Rogaland, settled first in this place (Sandavágur)".

This description "eastman" (from Norway) has to be seen together with the description "westman" (From Ireland/Scotland) which is to be found in local place-names such as "Vestmanna

Vestmanna

Vestmanna is a town in the Faroe Islands on the west of the island of Streymoy. It was formerly a ferry port, until an undersea tunnel was built from Vágar to Kvívík and Stykkið. The cliffs west of Vestmanna, Vestmannabjørgini are very popular for excursions by boat.A 'Vestmann' was a "Westman",...

-havn" i.e. "Irish-mens harbour" in the Faroe Isles, and "Vestmannaeyjar" i.e. "Irish-mens islands" in Iceland

Iceland

According to Færeyinga Saga there was an ancient institution on the headland Tinganes

Tinganes

Tinganes is the historic location of the Faroese landsstýri , and is a part of Tórshavn. The name means "parliament jetty" or "parliament point" in Faroese....

in Tórshavn

Tórshavn

Tórshavn is the capital and largest town of the Faroe Islands. It is located in the southern part on the east coast of Streymoy. To the north west of the town lies the high mountain Húsareyn, and to the southwest, the high Kirkjubøreyn...

on the island of Streymoy

Streymoy

Streymoy is the largest and most populated island of the Faroe Islands. The capital, Tórshavn is located there. The name means "island of currents".- Geography :...

. This was an Alþing or Althing (All-council.) This was the place where laws were made and disputes solved. All free men had the right to meet in the Alþing. It was a parliament and law court for all, thus the name. Historians estimate the Alþing to have been established from 800 to 900.

The islands were converted to Christianity

Christianity

Christianity is a monotheistic religion based on the life and teachings of Jesus as presented in canonical gospels and other New Testament writings...

around the year 1000, with the Diocese of the Faroe Islands based at Kirkjubøur

Kirkjubøur

Kirkjubøur is the southernmost village on Streymoy, Faroe Islands and the country's most important historical site.It is located on the west coast and has a view towards the islands Hestur and Koltur.-History:...

, southern Streymoy

Streymoy

Streymoy is the largest and most populated island of the Faroe Islands. The capital, Tórshavn is located there. The name means "island of currents".- Geography :...

, of which there were 33 Catholic bishops. The Faroes became a part of the Kingdom of Norway in 1035.

Early in the 11th century Sigmund or Sigmundur Brestisson

Sigmundur Brestisson

Sigmundur Brestisson introduced Christianity to the Faroe Islands in 999. He is one of the main characters of the Færeyinga saga.According to the Færeyinga Saga, emigrants who left Norway to escape the tyranny of Harald I of Norway, settled in the islands about the beginning of the 9th century...

, whose family had flourished in the southern islands but had been almost exterminated by invaders from the northern, was sent from Norway, whither he had escaped, to take possession of the islands for Olaf Tryggvason, king of Norway. He introduced Christianity, and, though he was subsequently murdered, Norwegian supremacy was upheld and continued.

King Sverre of Norway

Sverre of Norway

Sverre Sigurdsson was king of Norway from 1177 to 1202. He married Margareta Eriksdotter, the daughter of the Swedish king Eric the Saint, by whom he had the daughter Kristina Sverresdotter....

was brought up in the Faroe, being stepson of a Faroese man, and relative to Roe, bishop of the islands.

Foreign commercial interest: 14th century to Second World War

The 14th century saw the start of what would prove to be a long era of foreign encroachment in the Faroese economy. At this time trading regulations were set up so that all Faroese commerce had to pass through Bergen, Norway in order to collect customs tax. Meanwhile, the Hanseatic League

Hanseatic League

The Hanseatic League was an economic alliance of trading cities and their merchant guilds that dominated trade along the coast of Northern Europe...

was gaining in power, threatening Scandinavian commerce. Though Norway tried to halt this process it was forced to relent after the Black Death

Black Death

The Black Death was one of the most devastating pandemics in human history, peaking in Europe between 1348 and 1350. Of several competing theories, the dominant explanation for the Black Death is the plague theory, which attributes the outbreak to the bacterium Yersinia pestis. Thought to have...

decimated its population.

Norwegian supremacy continued until 1380, when the islands became part of the dual monarchy Denmark–Norway

Denmark–Norway

Denmark–Norway is the historiographical name for a former political entity consisting of the kingdoms of Denmark and Norway, including the originally Norwegian dependencies of Iceland, Greenland and the Faroe Islands...

. The islands were still a possession of the Norwegian crown since the crowns had not been joined. In 1380 the Alþting was renamed the Løgting

Løgting

Løgting is the unicameral parliament of the Faroe Islands, a self-ruling dependency of Denmark.The name literally means "Law Thing" - that is, a law assembly - and derives from Old Norse lǫgþing, which was a name given to ancient assemblies. A ting or Þing has existed on the Faroe Islands for over...

, though it was by now little more than a law court.

In 1390s, Henry Sinclair I, Earl of Orkney, took possession of the islands (as vassal of Norway, however) and for some time they were part of the Sinclair principality in the North Atlantic.

Archaeological excavations on the islands indicate sustained pig

Pig

A pig is any of the animals in the genus Sus, within the Suidae family of even-toed ungulates. Pigs include the domestic pig, its ancestor the wild boar, and several other wild relatives...

keeping up to and beyond the 13th century, a situation unique compared to Iceland

Iceland

and Greenland

Greenland

Greenland is an autonomous country within the Kingdom of Denmark, located between the Arctic and Atlantic Oceans, east of the Canadian Arctic Archipelago. Though physiographically a part of the continent of North America, Greenland has been politically and culturally associated with Europe for...

. The Faroese at Junkarinsfløtti remained dependent upon bird resources, especially puffins, far longer, and to a greater degree than any of the other Viking Age settlers of the North Atlantic islands.

English

England

England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...

adventurers gave great trouble to the inhabitants in the 16th century, and the name of Magnus Heinason

Magnus Heinason

Magnus Heinason was a Faroese naval hero, trader and privateer. He was the son of Heine Havreki, a Norwegian priest from Bergen who emigrated to the Faroe Islands and who helped introduce the Lutheran Reformation to the Faroe Islands, and Gyri Arnbjørnsdatter, Havreki's second wife from a...

, a native of Streymoy

Streymoy

Streymoy is the largest and most populated island of the Faroe Islands. The capital, Tórshavn is located there. The name means "island of currents".- Geography :...

, who was sent by Frederick II to clear the seas, is still celebrated in many songs and stories.

In 1535 Christian II

Christian II of Denmark

Christian II was King of Denmark, Norway and Sweden , during the Kalmar Union.-Background:...

, the deposed monarch, tried to regain power from King Christian III who just succeeded his father Frederick I. Several of the powerful German companies backed Christian II, but he eventually lost. The new King Christian III gave the German trader Thomas Köppen exclusive trading rates in the Faroes. These rights were subject to the following conditions: only good quality goods were to be supplied by the Faroese and were to be made in numbers proportionate to the rest of the market; the goods were to be brought at their market value; and the traders were to deal fairly and honestly with the Faroese.

Christian III also introduced Lutheranism

Lutheranism

Lutheranism is a major branch of Western Christianity that identifies with the theology of Martin Luther, a German reformer. Luther's efforts to reform the theology and practice of the church launched the Protestant Reformation...

to the Faroes, to replace Catholicism

Roman Catholic Church

The Catholic Church, also known as the Roman Catholic Church, is the world's largest Christian church, with over a billion members. Led by the Pope, it defines its mission as spreading the gospel of Jesus Christ, administering the sacraments and exercising charity...

. This process took five years to complete, in which time Danish was used instead of Latin

Latin

Latin is an Italic language originally spoken in Latium and Ancient Rome. It, along with most European languages, is a descendant of the ancient Proto-Indo-European language. Although it is considered a dead language, a number of scholars and members of the Christian clergy speak it fluently, and...

and church property was transferred to the state. The bishopric at Kirkjubøur, south of Tórshavn

Tórshavn

, where remains of the cathedral may be seen, was also abolished.

After Köppen, others took over the trading monopoly, though the economy suffered as a result of the war between Denmark and Sweden. During this period of the monopoly most Faroese goods (wool

Wool

Wool is the textile fiber obtained from sheep and certain other animals, including cashmere from goats, mohair from goats, qiviut from muskoxen, vicuña, alpaca, camel from animals in the camel family, and angora from rabbits....

products, fish, meat) were taken to the Netherlands

Netherlands

The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...

where they were sold at pre-determined prices. However, the guidelines of the trading agreement were often ignored or corrupted. This caused delays and shortages in Faroese supplies. Subsequently they produced poorer quality goods, and received poorer quality goods themselves. With the trading monopoly nearing collapse smuggling and piracy were rife.
Denmark tried to solve the problem by giving the Faroes to Christoffer Gabel (and later on his son, Frederick) as a personal feudal estate. However, the Gabel was harsh and repressive, breeding much resentment from the Faroese. This caused Denmark, in 1708, to take the islands and trading monopoly back to central government. However, they too struggled to keep the economy going, and many merchants were running at a loss. Finally, on the 1 January 1856 the trading monopoly was abolished.

Denmark

Denmark

Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...

retained possession of the Faroes at the Peace of Kiel in 1814, but lost continental Norway

Norway

.

In 1816 the Løgting

Løgting

(the Faroese parliament) was officially abolished and replaced by a Danish judiciary. Danish was introduced as the main language, whilst Faroese was discouraged. In 1849 a new constitution came into power in Denmark. This new constitution was announced in the Faroes in 1850, giving the Faroese two seats in the Rigsdag

Rigsdag

Rigsdagen was the name of the Parliament of Denmark from 1849 to 1953.Rigsdagen was Denmark's first parliament, and it was incorporated in the Constitution of 1849. It was a bicameral legislature, consisting of two houses, the Folketing and the Landsting. The distinction between the two houses was...

(Danish parliament). However, the Faroese managed to re-establish the Løgting

Løgting

as a county council with an advisory role in 1852, with many people hoping to eventually achieve independence. The late 19th century saw increasing support for the home rule/independence movement, though not all people supported it. Meanwhile, the Faroese economy was growing with the introduction of large-scale fishing. The Faroese were allowed access to the large Danish waters in the North Atlantic. Living standards subsequently improved and there was a population increase. Faroese became a standardised written language in 1890.

World War II

During the Second World War

World War II

World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...

Denmark was invaded and occupied by Nazi Germany

Nazi Germany

Nazi Germany , also known as the Third Reich , but officially called German Reich from 1933 to 1943 and Greater German Reich from 26 June 1943 onward, is the name commonly used to refer to the state of Germany from 1933 to 1945, when it was a totalitarian dictatorship ruled by...

. The British

Great Britain

subsequently made a pre-emptive (but friendly) invasion and occupation of the Faroes to prevent a German invasion. Given their strategic location in the North Atlantic, the Faroes could have proved useful to Germany

Germany

Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...

in the Battle of the Atlantic, possibly as a submarine

Submarine

A submarine is a watercraft capable of independent operation below the surface of the water. It differs from a submersible, which has more limited underwater capability...

base. Instead, the British forces built an airbase on Vágar

Vágar

Vágar is one of the 18 islands in the archipelago of the Faroe Islands and the most westerly of the large islands. With a size of 178 km² , it ranks number three, behind Streymoy and Eysturoy....

. Faroese fishing boats also provided a large amount of fish to the UK, which was essential given food rationing.

The Løgting

Løgting

gained legislative powers, with the Danish prefect Carl Aage Hilbert

Carl Aage Hilbert

Carl Aage Hilbert was the Danish Prefect of the Faroe Islands from 1936 until 1945. During this period, the Faroe Islands had the status of an amt of Denmark....

retaining executive power. The Faroese flag was recognized by British authorities. There were some attempts to declare complete independence in this period, but the UK had given an undertaking not to interfere in the internal affairs of the Faroe Islands nor to act without the permission of a liberated Denmark. The experience of wartime self-government was crucial in paving the way for formal autonomy in 1948.

The British presence was broadly popular (particularly given the alternative of a German occupation). Approximately 150 marriages took place between British soldiers and Faroese women, although the scale of the British presence on Vágar

Vágar

Vágar is one of the 18 islands in the archipelago of the Faroe Islands and the most westerly of the large islands. With a size of 178 km² , it ranks number three, behind Streymoy and Eysturoy....

did lead to some local tensions. The British presence also left a lasting popularity for British chocolate

Chocolate

Chocolate is a raw or processed food produced from the seed of the tropical Theobroma cacao tree. Cacao has been cultivated for at least three millennia in Mexico, Central and South America. Its earliest documented use is around 1100 BC...

, which is readily available in Faroese shops but uncommon in Denmark.

Post-WWII: Home Rule

Following the liberation of Denmark

Denmark

and the end of World War II

World War II

, the last British troops left in September 1945. Until 1948 the Faroes had the official status of an Danish amt

Amt (subnational entity)

Amt is a type of administrative division governing a group of municipalities, today only found in Germany, but formerly also common in northern European countries. Its size and functions differ by country and the term is roughly equivalent to a U.S...

(county). A referendum on full independence was held in 1946, which produced a majority in favour. This was, however, not recognised by the Danish Government or king due to only 2/3 of the population participating in the referendum, so the Danish king abolished the government of the Faroes. The subsequent elections Løgting

Løgting

were won by an anti-independence majority and instead a high degree of self-governance was attained in 1948 with the passing of the Act of Faroese Home Rule. Faroese was now an official language, though Danish is still taught as a second language in schools. The Faroese flag was also officially recognised by Danish authorities.

In 1973 Denmark joined the European Community (now European Union). The Faroes refused to join, mainly over the issue of fishing limits.

The 1980s saw an increase in support for Faroese independence. Unemployment was very low, and the Faroese were enjoying one of the world's highest standards of living. The Faroese economy though was almost entirely reliant on fishing. The early 1990s saw a dramatic slump in fish stocks, which were being overfished with new high-tech equipment. During the same period the government was also enagaged in massive overspending, associated with the Big 80s. National debt was now at 9.4 billion Danish krones (DKK

Danish krone

The krone is the official currency of the Kingdom of Denmark consisting of Denmark, the Faroe Islands and Greenland. It is subdivided into 100 øre...

). Finally, in October 1992, the Faroese national bank (Sjóvinnurbankin) called in receivers and were forced into asking Denmark for a broad financial bailout. The initial sum was 500 million DKK, though this eventually grew to 1.8 billion DKK (this was in addition to the annual grant of 1 billion DKK). Austerity measures were introduced: public spending was cut, there was a tax

Tax

To tax is to impose a financial charge or other levy upon a taxpayer by a state or the functional equivalent of a state such that failure to pay is punishable by law. Taxes are also imposed by many subnational entities...

and VAT

Vat

Vat or VAT may refer to:* A type of container such as a barrel, storage tank, or tub, often constructed of welded sheet stainless steel, and used for holding, storing, and processing liquids such as milk, wine, and beer...

increase and public employees were given a 10% wage-cut. Much of the fishing industry was put into receivership, with talk of cutting down on the number of fish-farms and ships.

It was during this period that many Faroese (6%) decided to emigrate, mainly to Denmark. Unemployment rose, up to as much as 20% in Tórshavn

Tórshavn

, with it being higher in the outlying islands.
In 1993 the Sjóvinnurbankin merged with the Faroes second largest bank, Føroya Banki. A third was declared bankrupt and folded. Meanwhile, there was a growing international boycott of Faroese produce over the grindadráp (whaling) issue. The independence movement dissolved on the one hand while Denmark found itself left with the Faroe Islands' unpaid bills on the other.

The measures largely worked. Unemployment peaked in January 1994 at 26%, since which it fell (10% in mid-1996, 5% in April 2000). The fishing industry was not curtailed as much as was being considered, so it survived largely intact. Fish stocks also rose, with the annual catch being 100,000 in 1994, to 150,000 in 1995. In 1998 it was 375,000. Emigration also fell to 1% in 1995, and there was a small population increase in 1996. Oil has been discovered nearby as well. By the early 21st century, weakness in the Faroese economy had been eliminated and, accordingly, many minds turned once again to the possibility of independence from Denmark. However, a planned referendum on a roadmap towards independence in 2001 was called off following Danish Prime Minister Poul Nyrup Rasmussen

Poul Nyrup Rasmussen

Poul Nyrup Rasmussen , informally Poul Nyrup, born 15 June 1943), was Prime Minister of Denmark from 25 January 1993 to 27 November 2001 and is currently President of the Party of European Socialists . He was the leader of the governing Social Democrats from 1992 to 2002...

saying that Danish money grants would be phased out within four years if there was a 'yes' vote.

External links

History of Faroe Islands - Information on the history of the Faroe Islands from the 9th Century to the present.

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