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Vol. 14 ISSUE 29 22 - 28 July 2011
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When is green not ‘green’? Frederiksberg Council rejects electric car charging stands over their colour News
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As enhanced border controls continue to come under scrutiny, what do visiting tourists think? 6
Denmark could be without a single citizen with Down’s syndrom by 2030, but the trend raises ethical questions In & out
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Pack your bags and move to the city By Peter Stanners
By Jennifer Buley
Young Danes are leaving their home towns and flocking to Copenhagen in record numbers
All five banks that underwent examination are judged secure enough to withstand recession
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he rural exodus is hardly a new phenomenon. Cities have always attracted the ambitious, attractive and entrepreneurial – all searching for opportunity, education and excitement. But a recent study by Statistics Denmark has revealed that the magnetism of the big city has increased greatly in recent years. Whereas in 2006 Copenhagen experienced a net increase of 5,644 people aged 20 to 30, in 2010 the capital city saw the age group grow by 8,541. The Copenhagen Post spoke to three young Danes to discover what motivated them to leave their homes and family comforts to risk it all in the big city – and to learn whether provincial life is really that uninspiring. Twenty-six-year-old Morten Bonde is originally from Sakskøbing on the southern island of Lolland. After moving to nearby Nykøbing Falster to complete high school, he made the move to Copenhagen when he was 21. “Sakskøbing is a small city, so you have to choose what you want to do. You can either join
Nation’s banks pass stress test
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as manual labourers or in one of the local factories. “I can’t imagine going back unless I’m 60 and I need to be closer to nature,” Bonde said. “But in that case I would definitely just move to the outskirts of Copenhagen.” Just like Bonde, 23-yearold student Simone Kyed from the Jutland town of Silkeborg
he European Banking Authority (EBA) announced on Friday that all the Danish banks that took its 2011 stress test – Danske Bank, Jyske Bank, Sydbank, Nykredit Bank and Nordea – are well-positioned to weather significant losses or a potential economic downturn. “From the headlines people were getting the message that Denmark was about to go bankrupt at any second,” Jyske Bank financial analyst Christian Hede told Berlingske newspaper’s financial news site Business.dk. “But the test shows that the Danish banks end up at the very top. Even if it didn’t come as a surprise to those who know something about it, there were still others who said, ‘Whoa, hold it. Isn’t it worse?’” A key requirement for the EBA’s stress test was that the banks have at least five percent equity capital set aside to cover potential losses. According to Jyske Bank its equity capital is 12.5 percent. Danske Bank calculates that its equity capital
The City continues on page 6
Banks continues on page 5
Peter Stanners Morten Bonde, a 26-year-old from Sakskøbing, said his move to Copenhagen was “an issue of creativity”
the soccer team or local moped gang or you have to move to the bigger city to get some more action,” he explained. “It was a static environment. I’ve known since I was 16 that it wasn’t my kind of place and then it was just about getting high school done so I could move. I don’t have any friends down there anymore.” An aspiring photographer and graphic designer, he realised he would have to leave the
provincial town in order to realise his ambitions. “My decision to move was an issue of creativity. People in Sakskøbing were just satisfied with their lives – they had partners at an early age and stayed down there. I needed a bigger platform to evolve and it had to be Copenhagen,” he said, adding that most of his friends from primary school who stayed in Sakskøbing ended up taking on work
Crisis pushes euro vote off political agenda Supporters say referendum now would be “risky”
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ith increasing concern about the health of the euro, any decision about whether Denmark should adopt the common currency has been postponed for at least a year, reports Jyllands-Posten newspaper. Supporters of the euro in both the government and the opposition agree that eliminating all three special EU exemptions, including the one allowing Denmark to retain the krone, remains the right thing to do. But how and when a vote would take place remains a matter political conviction. The opposition, if it gains
power in this autumn’s general election, would consider a referendum on the euro exemptions, while allowing the country to remain on the sidelines of EU justice and defence policies. But a vote on the euro would likely not occur during their first term. The Socialist People’s Party (SF), which would form an opposition government together with the Social Democrats, said the current problems with the euro only reinforced their overall resistance to it. “We don’t believe in the idea in the first place,” said party leader Villy Søvndal. “It’s a good thing for Denmark that right now we enjoy the best of both worlds – we are involved in
economic cooperation, but we don’t use the euro.” The Social Liberals agreed that a vote now was “a risky undertaking”, but maintained that at some point it would be best if Denmark eliminated all three opt-outs. “But they don’t need to be eliminated all at once,” Soc Lib EU spokesperson Lone Dybkjær said. “It’s most important to get rid of the justice and defence opt-outs.” Even though some economists have argued that Denmark right now is safest outside the eurozone, representatives from the Liberal-Conservative government say the economic arguments are still in favour of the euro. “We should be a part, even
though the timing might be wrong,” said Liberal EU spokesperson Flemming Møller. He suggested that if the government hangs on to power, a referendum on all three opt-outs would be held as early as late 2012, after Denmark hands over the EU presidency which it will hold in the first half of 2012. Among the country’s other euro-sceptic parties – the Danish People’s Party (DF) and the RedGreen Alliance – the euro’s crisis has cemented their resistance. Morten Messerschmidt, a member of the European Parliament for the DF, described the euro as “fighting for its survival”, and said any vote – now or in the future – would be “masochistic”. (KM)
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