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Business

Wave of bank closures on the horizon

admin
September 23rd, 2013


This article is more than 11 years old.

Broken business models continue to cost Danish banks their lives, even after the worst of the recession has ended, predict a number of industry insiders.

“We’re in no way done with structural readjustment,” John Fisker, the managing director of Rinkjøbing Bank.

With bank customers depositing increasingly less money, banks find themselves with less need for income-earning services.

Banks, then, respond by cutting services. And that cycle is unsustainable, according to Fisker.

There are currently 88 banks in Denmark. Fisker predicts that there will be 50 left by 2020. Since the financial crisis broke out in 2008, 53 Danish banks have buckled under.

Erhverv & Økonomi

This story was included in The Copenhagen Post's Morning Briefing for Monday, September 23. 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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A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”