For most people, the first view of Greenland's icy mountains is from 36,000 feet as they cruise over the world's largest island en route to Los Angeles. It looks chillingly inhospitable: a snowscape, stretching across 836,000 square miles, with no roads, no cities and only sparse settlements along the rugged coastline, home to 57,000 hardy inhabitants. Why did Eric the Red call his discovery green?

To the early Vikings, the coast may indeed have looked verdant, as the weather in the 11th century was a lot warmer up north. The second wave of Viking colonists has found things harsher. Denmark won a court case against Norway for undisputed claim only in 1933, but seven years later Greenlanders were cut off by war, and turned to America for vital supplies. The taste for freedom grew: Greenland flexed its muscles in 1953. In 1979 it won home rule. In 1985 it stormed out of the European Community in a row over fish (still the only EU quitter). Now its Prime Minister is discussing full independence.

Greenland should stop and think of the havoc. Global tables must be rewritten for the world's newest country - the 14th largest, 24th richest, fastest melting and biggest economic magnet - as prospectors and multinationals wait for the retreating ice to reveal a Klondike of gold, platinum, diamonds, lead, zinc, oil, gas and coal. Will Greenland, with a US base at Thule, be part of Europe or America? Will it use the euro and enter the Eurovision song contest? Will it beat the Faroes at football? How will it vote at the UN? There's more than fish, ice and igloos in Nuuk. A mighty new power is set to astonish the world.