Browsing Tag

Denmark

Denmark out of recession

The Danish economy has officially left recession, marking a growth rate of 0.6% for the second quarter of this year. In the midst of much doom and gloom for the eurozone, this is a positive development. More news expected. See other…

Writedown news: 28 Aug 2008

Below are the latest writedown stories from the web that I have seen. For the full timeline of news, visit my credit crisis timeline. Bloomberg recently updated their tally of writedowns to arrive at $503.8 Billion to date. That is on…

Foreign Press Alert: 28 Aug 2008

Given the number of foreign articles I have translated recently, I thought it would be useful to start a foreign press alert which pulls together common themes in order to present a holistic view. Today, I will post on Argentina, Spain,…

PIMCO message to clients on Roskilde

PIMCO, the brainchild of Bill Gross and now owned by the German insurance giant Allianz, is concerned enough about the bankruptcy of Roskilde Bank in Denmark to have sent the following e-mail out to its clients. I have put important parts…

The Roskilde Bank problem

Over the weekend the Danish Central Bank took over bankrupt Roskilde Bank, wiping out shareholders. Tiny Denmark has had a bankruptcy on its hands that is following the script of Northern Rock in the UK to a tee: After lending too much…

Bankrupt Danish Bank Roskilde sold

The bankrupt Danish Bank Roskilde received no bidders as the Central Bank of Denmark looked to unload the bank as quickly as possible. Roskilde got into trouble after the Danish economy turned down and loans it had made to home builders…

Denmark’s house prices fall

As the first bubble economy to hit the skids and officially fall into recession, tiny Denmark deserves a mention. Statistics Denmark has released figures showing that house prices are falling in Denmark, which joins an ever-increasing group…

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