Denmark Haircutting Senior Bonds

I’m not going to comment on this story but, needless to say, it will be of some interest to many of our readers.

Update: On The Frontline just now, in response to questions from Pat Kenny on the Danish bond haircuts and to the figure quoted of €20 billion in unguaranteed bank bonds (previously mentioned by Sinn Fein’s Pearse Doherty), Brian Lenihan said the following: “We put the €20 billion that Pearse is talking about on the table in the EU-IMF negotiations. The ECB ruled it out. But it’s still there in debate, it’s still there in discussion. And we’re pressing for a substantial discount there and for burden sharing.”