It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Just why should we save Danish bacon?

page: 1
0

log in

join
share:

posted on Feb, 27 2008 @ 06:57 AM
link   

Just why should we save Danish bacon?


business.timesonline.co.uk

Should we really be using taxpayers’ money to subsidise Danish savers? No, I don’t think so, either. I am directed to the website of the Northern Rock subsidiary in Denmark, with a logo of a pig and the phrase “ Svinefed rente”, which appears to mean “Swilling interest”. It also reassures lenders: “Your savings with Northern Rock continue to be safe and secure, protected by the UK Government guarantee arrangements.”
(visit the link for the full news article)



posted on Feb, 27 2008 @ 06:57 AM
link   
Words fail me! This whole Northern Rock affair has been badly handled. And subsidising Danes of all people!!

business.timesonline.co.uk
(visit the link for the full news article)



posted on Feb, 27 2008 @ 07:18 AM
link   
That is just plain wrong, i felt the way the government was not the best but they managed to get it undercontrol at the end, people might lose money but thats better than being left with nothing at all.

on the otherhand, i was cool with this as i thought it was a british bank (not that i have anything against anyone who is not from the uk
) , and its not a very good thought that we are saving the butt's of a bank from another country, cant their country step in and guarentee their peoples savings as well ?



posted on Feb, 27 2008 @ 07:50 AM
link   
Maybe I'm not understanding the whole picture but if the Danish bank is part of Northern Rock, why would they be excluded from the bail out? Northern Rock mismanaged their funds just the same as UK residents... no?

If you put your money in a Danish owned bank trading in the UK and it collapsed, would you have the same attitude?



posted on Feb, 27 2008 @ 08:37 AM
link   

Originally posted by mythatsabigprobe
If you put your money in a Danish owned bank trading in the UK and it collapsed, would you have the same attitude?


I dont think the Danes would bail me out in that situation.Don't really trust them...



posted on Feb, 27 2008 @ 08:48 AM
link   

Originally posted by Attari
I dont think the Danes would bail me out in that situation.Don't really trust them...


That's pretty obvious from your earlier statement "And subsidising Danes of all people!! "

My father was Danish so I don't appreciate your comment and I don't think it's very appropriate for a news item.



posted on Feb, 27 2008 @ 08:49 AM
link   
so now that NR has been nationalised , does that mean that the danish bank is now brittish nationalised ?

is it even legal for one country to nationalise a bank in another soverign state ??

if the danish bank was a ` going concern ` it should have been sold to relieve NRs debt

or can subsidiaries like this petition to be granted autonomy ??

on a nother note - IMHO the times is prsenting a very biased view of the situation


Rather attractive rates – 5 per cent, if you bung in more than £500 in kroner. This compares, I am told, with the Danish equivalent of Libor, the rate at which banks lend to each other, at 4.63 per cent


first the rate at which danish banks lend to each other is a red herring - it has ZERO bearing on the intrest rates offered to savers

second what are typical interest rates in danish owned banks , HELLMUTT ? or any other danish ATSers

because if this is a dinish subsiduary of NR - it should IMHO be operating acording to danish bank laws and offering rates in line with the danish national interest rate

however an NR branch in copenhagan could claim the right to operate according to brittish law and bank practices - and offer rates based on brittish rates

but this is not the case here

lastly - 5% is nothing special - i have 6.25% on my savings account



posted on Sep, 29 2011 @ 12:33 PM
link   
 




 



posted on Sep, 29 2011 @ 12:36 PM
link   

Originally posted by Attari

Originally posted by mythatsabigprobe
If you put your money in a Danish owned bank trading in the UK and it collapsed, would you have the same attitude?


I dont think the Danes would bail me out in that situation.Don't really trust them...


I think the Danes would and they wouldn't blink an eye.. really decent people.. just as long as you get over them actually waiting for the crossing signal to go green on empty roads



posted on Sep, 29 2011 @ 12:59 PM
link   

Originally posted by thoughtsfull

Originally posted by Attari

Originally posted by mythatsabigprobe
If you put your money in a Danish owned bank trading in the UK and it collapsed, would you have the same attitude?


I dont think the Danes would bail me out in that situation.Don't really trust them...


I think the Danes would and they wouldn't blink an eye.. really decent people.. just as long as you get over them actually waiting for the crossing signal to go green on empty roads


We are getting better at that
Well, at least I am.

I don't really get this story. There haven't been any mentioning of this in the Danish MSM. Apart from that, I don't think we need bail outs, we are doing decently... dealing with the recession going on. However the swine business has had its problems indeed. I think that the bank in question here deals more with keeping the swine business running rather than caring for the Danish saver. Or in other words, trying to keep jobs up...



posted on Sep, 29 2011 @ 02:45 PM
link   
reply to post by flice
 


The article dates from 2008, and tho I read it at the time, I didn't think any more of it until someone commented on it today and couldn't resist the urge to comment..

I believe Northern Rock no longer trades in Denmark and stopped trading a few months after the article appeared so the interest rate appears to me as a loss leader to attempt to keep afloat.. didn't seem to work, which is a shame.

www.northernrock.dk...







 
0

log in

join