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Dramatic Banking Bail-Out in Denmark

Aug. 25, 2008 (EIRNS)—The Danish National Bank announced at a press conference this morning that it had just "nationalized" Roskilde Bank, one of the nation's largest banks. National Bank Governor Niels Bernstein said that a review of Roskilde's books, on Friday, Aug. 22, left no choice, as the bank was insolvent. Another central bank director added that the emergency action was taken in order to prevent a collapse of the entire (!) Danish financial sector. All this is, of course, to be loaded onto the shoulders of the taxpayers.