Banks mostly to blame for financial crisis, report concludes

September 19th, 2013

This article is more than 10 years old.

The 500-page government-commissioned report looking into the causes and consequences of the financial crisis in Denmark calculates that the economic chaos it kicked up cost the country around 400 billion kroner.

And even though the crisis ended in 2010, its effects are still being felt by banks and the state, which remains responsible for operating banks it took over.

The report’s ultimate conclusion was that while banks relaxed lending policies were mostly responsible for the finance crisis here in Denmark, central bank regulators did not step in to prevent the rapid rise in bank lending that took place in the five years leading up to the 2008 crash.

Erhverv og Økonomi

SEE RELATED: Report points to banks and weak oversight as key factors in crisis

This story was included in The Copenhagen Post's Morning Briefing for Thursday, September 19. If you would like to receive stories like these delivered to your inbox by 8am each weekday, sign up for the Morning Briefing or one of our other newsletters today. 


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