While Brussels is desperately trying to overcome the current economic crisis helping all those European losers sort of Greece and other, staying supportive of those postcommunist dwarfs ..... China has already bought the key to open the Greenland's treasure chest!
Chinese are the most active investors into various industry segments of Greenland and at the same time they support effectively and covertly the local government's drive for independence from Denmark! In this case Greenland would be actually ruled by China, wella.... serving its springboard to get more pieces of the Arctic pie!
China is active not only in business. It's getting ready to launch its military bases in Greenland! They are already trying to agree on the rent costs!! It may be rather a shocking revelation for you, but in future European countries will probably have to pay sort of tax to China to get access to the North sea route!!
Unlike Brussels China is set to invest really huge sums into Greenland. Greenland local government officials are frequent guests in Beijing and they are in very close nexus with the China's International Development Bank. I can assert this as a financial expert.
And I also doubt greatly Brussels has got any solid financial footage presently for any Arctic bid! Only very wealthy countries may join the elite Arctic club, you know!