Bank Bail-In Advice From First EU Country Ever to Try One Out
Denmark's Rohde: Brexit More Painful for U.K. Than EU
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Back in 2011, Denmark became the first European Union country to force losses on senior bank creditors in a bail-in. The shock left all but the biggest Danish banks shut out of funding markets as bond investors watched in horror.
Now, with Europe being tested on its resolve to commit to the same strategy, the potential costs and contagion are no match for standing by principle, according to Lars Rohde, the governor of Denmark’s central bank.