Contagion Spreads To Sleepy Denmark, As CDS Surges By 20% Overnight

Tyler Durden's picture

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magpie's picture

Krona is pegged to the Euro FYI

Dagny Taggart's picture

At first glance, I thought it was odd to see a beer pegged to a currency lol. It's no more absurd than using soccer players for collateral.

oogs66's picture

this bailout lasted less than a week.  since last thursday's big news, no new details and no real progress

EscapeKey's picture

Danske Bank received substantial aid a few years back. TBTF is very much in play in Denmark as well.

ever closer to German, which now has to fund two insolvency fronts

Whoa, there. Although running a deficit, the public sector debt/GDP ratio is not bad in Denmark, and the housing bubble has deflated to an extent. Denmark is most certainly not anywhere near the same category as Club Med - in fact, 88 bps is probably not far off the UK or US.

i-dog's picture

"88 bps is probably not far off the UK or US"

Oh, that's all right then ... 'cos we know the UK and US are in great shape. Phew!!

GeneMarchbanks's picture

Hans Christian Andersen tales slowly turn into Fear and Trembling.

Gohn Galt's picture

Not slowly turning into fear.  I was there at the beginning in the early 90's meeting with their Ministers. The fear of Germany and Banker's was very much alive.  And now the fears are very real.  The Minister's didn't want this, the Danish people didn't want this.  We were all powerless stop it, I was surprised they were able to keep their currency.  Sorry Denmark.

writingsonthewall's picture

The hull has been breached captain! - check out the new low.

 

http://finance.yahoo.com/echarts?s=usdjpy=X#chart15:symbol=usdjpy=x;rang...

 

Sorry I'm late - got here as soon as I could!

 

Where does it go from here?

 

Regardless of the resolution on debt - this suckers going down...

THE DORK OF CORK's picture

The evil eye has cast its dark gaze on the last of the hobbit countries.

www.youtube.com/watch?v=JvanTLQGHiA

THE DORK OF CORK's picture

The orcs will scour every Shire.

NuYawkFrankie's picture

Why not just change the name "Zero Hedge" to either:

1) All Boaner - all the freekin time.

or

2) CDS Contagion.... get your CDS Contagion here!

I'm afraid you'll have to do better than this if you want to kep my patronage.

Get a grip!

Toolshed's picture

Yes.........well, I am sure the ZH guys stay up all night scheming and formulating plans to maintain your "patronage."

 

Terminus C's picture

I was thinking much the same.  Sounds like Nu's a gov't bot.

Tao 4 the Show's picture

Getting close to strongman Germany, which has more vulnerability than most care to admit.

BTW, can anyone tell me if there is a way to message/email ZH posters?

BobPaulson's picture

If there is, let me know so I can cancel my account.

Bob's picture

Anybody still wonder whose back the "rating agencies" have?!

First they play a fundamental role in bringing about the conditions that put TBTF into play, and now they make threats against those who don't play along.

Thorlyx's picture

Hitler found out that a 2 front war is a toughie. With France in the west, Merkel will then have it 3 ways. Airtight.

Mec-sick-o's picture

Kein Problem.

Just avoid the French defence barrier and do the Blitz overrun to Brussels (European Union capital) to take Europe.

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chinawholesaler's picture

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