The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
Slightly longer answer: Denmark joined Bretton Woods, just like the rest of The WestTM. When Bretton Woods crashed, we tried to maintain a D-Mark peg, but had a decade of regular devaluations against it.
Of course devaluing and then attempting to defend the new exchange rate is just asking to be attacked. What we should have done was to float our currency. What we did instead was elect a right-wing economic hit man who enforced the D-Mark peg to the exclusion of all sensible macroeconomic concerns. Right on cue, this caused our productive economy to crater and the FIRE sector to blow a huge bubble all over the first half of the 1980s.
Somehow the 1980 decision to go for broke on the peg rather than abandon it has been anointed as the greatest act of wisdom in recent Danish economic history - rather than the gross act of irresponsible industrial sabotage it actually was.
Friends come and go. Enemies accumulate.
by marco - Mar 26 21 comments
by gmoke - Mar 26
by DoDo - Mar 19 18 comments
by DoDo - Mar 7 21 comments
by DoDo - Mar 12 33 comments
by DoDo - Mar 14 7 comments
by Upstate NY - Mar 15 294 comments
by Frank Schnittger - Mar 14 22 comments
by gmoke - Mar 26
by marco - Mar 2621 comments
by DoDo - Mar 1918 comments
by Upstate NY - Mar 15294 comments
by Frank Schnittger - Mar 1422 comments
by DoDo - Mar 147 comments
by alexc - Mar 126 comments
by DoDo - Mar 1233 comments
by paul spencer - Mar 112 comments
by gmoke - Mar 7
by DoDo - Mar 721 comments
by fjallstrom - Feb 28115 comments
by Frank Schnittger - Feb 26125 comments
by talos - Feb 23171 comments
by DoDo - Feb 229 comments