Today in Denmark: A roundup of the latest news on Wednesday
Defence agreement could collapse over conscription row, business minister promises action on bank profits, government loses majority, and other news from Denmark on Wednesday.
Defence agreement 'could collapse over conscription row'
Denmark's defence minister, Troels Lund Poulsen, has warned that opposition from the Liberal Alliance and Denmark Democrats to plans to bring in gender-equal conscription could lead to the collapse of the ten-year defence agreement reached by seven parties last year.
"This is an absolutely crucial priority for the government," he said at a meeting on support for Ukraine at Germany's Ramstein military base, saying he hoped that the two parties would come around. "But it is not the case that they are allowed to sit and block us from investing in the necessary capacities."
The Liberal Alliance's defense spokesman, Carsten Bach, said last week that the party, which is against conscription in general, would stick to its political position and oppose the government's proposal for equal conscription. The chairman of the Danish Democrats, Inger Støjberg, while opposing the measure, has not threatened to pull out of the agreement.
Lund Poulsen was sharply critical of the Liberal Alliance's position.
"I think it indicates that they want to put themselves outside of political influence, meaning they are ready to not support our common security, which is absolutely crucial for Europe," he said. "It basically shows that this is not a party capable of governing".
Danish vocabulary: forsvarsforlig - defence agreement
Business minister promises to take action on bank profits
Denmark's business minister, Morten Bødskov, has said he plans to bring in new regulations that will help bank profits bring greater benefit to their customers.
"I fundamentally believe that the higher earnings should benefit customers to a much greater extent," he said at a consultation hearing on Tuesday. "That is why I am currently looking at how to improve transparency and competition in the financial sector, so that customers get better and more advantageous banking products. It has to get better."
Bødskov said there was "hardly any doubt" that the banks' bumper profits this year were linked to high interest rates, with the spread between the interest rates banks charge customers and the interest rate customers get on their deposits increasing in recent years.
Danske Bank this year reported its highest annual profit ever, making 21.3 billion kroner.
Danish vocabulary: fordelagtige - advantageous
Danish government loses majority as MP defects to right-wing party
Member of parliament Mads Fuglede on Tuesday announced a switch from the Liberal (Venstre) party to the national conservative Denmark Democrats, leaving the coalition government without a clear majority to pass domestic policy.
Fuglede’s decision to switch parties means that the coalition government currently does not have a majority to guarantee it can pass domestic policy. It had had alreadylost its formal majority, but had been ruling with the support of an independent MP.
The now ex-Liberal MP announced in a statement posted on Facebook on Tuesday that he was switching to the Denmark Democrats, a party further to the right led by another former Liberal politician, the former immigration minister Inger Støjberg.
Fuglede said that he was against the centre-right Liberal party’s involvement in the coalition government alongside its traditional rivals the Social Democrats, and was also opposed to plans for a carbon tax on agriculture.
Danish vocabulary: løsgænger - an independent (MP)
Regulator finds 'high risk' of money laundering and terror financing at Danish bank
Denmark’s financial sector regulator said on Tuesday that the bank Spar Nord carries a ‘high risk’ of being used for money laundering and financing of terror activities.
The assessment was announced by the Danish Financial Supervisory Authority (Finanstilsynet) in a statement in which it also said it had issued Spar Nord with a number of orders to tackle the issue.
The North Jutland-based bank must implement sufficient checks and procedures for “effective prevention, limitation and control of money laundering and terror financing risks,” the regulator said.
Danish vocabulary: hvidvask - money laundering
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Defence agreement 'could collapse over conscription row'
Denmark's defence minister, Troels Lund Poulsen, has warned that opposition from the Liberal Alliance and Denmark Democrats to plans to bring in gender-equal conscription could lead to the collapse of the ten-year defence agreement reached by seven parties last year.
"This is an absolutely crucial priority for the government," he said at a meeting on support for Ukraine at Germany's Ramstein military base, saying he hoped that the two parties would come around. "But it is not the case that they are allowed to sit and block us from investing in the necessary capacities."
The Liberal Alliance's defense spokesman, Carsten Bach, said last week that the party, which is against conscription in general, would stick to its political position and oppose the government's proposal for equal conscription. The chairman of the Danish Democrats, Inger Støjberg, while opposing the measure, has not threatened to pull out of the agreement.
Lund Poulsen was sharply critical of the Liberal Alliance's position.
"I think it indicates that they want to put themselves outside of political influence, meaning they are ready to not support our common security, which is absolutely crucial for Europe," he said. "It basically shows that this is not a party capable of governing".
Danish vocabulary: forsvarsforlig - defence agreement
Business minister promises to take action on bank profits
Denmark's business minister, Morten Bødskov, has said he plans to bring in new regulations that will help bank profits bring greater benefit to their customers.
"I fundamentally believe that the higher earnings should benefit customers to a much greater extent," he said at a consultation hearing on Tuesday. "That is why I am currently looking at how to improve transparency and competition in the financial sector, so that customers get better and more advantageous banking products. It has to get better."
Bødskov said there was "hardly any doubt" that the banks' bumper profits this year were linked to high interest rates, with the spread between the interest rates banks charge customers and the interest rate customers get on their deposits increasing in recent years.
Danske Bank this year reported its highest annual profit ever, making 21.3 billion kroner.
Danish vocabulary: fordelagtige - advantageous
Danish government loses majority as MP defects to right-wing party
Member of parliament Mads Fuglede on Tuesday announced a switch from the Liberal (Venstre) party to the national conservative Denmark Democrats, leaving the coalition government without a clear majority to pass domestic policy.
Fuglede’s decision to switch parties means that the coalition government currently does not have a majority to guarantee it can pass domestic policy. It had had alreadylost its formal majority, but had been ruling with the support of an independent MP.
The now ex-Liberal MP announced in a statement posted on Facebook on Tuesday that he was switching to the Denmark Democrats, a party further to the right led by another former Liberal politician, the former immigration minister Inger Støjberg.
Fuglede said that he was against the centre-right Liberal party’s involvement in the coalition government alongside its traditional rivals the Social Democrats, and was also opposed to plans for a carbon tax on agriculture.
Danish vocabulary: løsgænger - an independent (MP)
Regulator finds 'high risk' of money laundering and terror financing at Danish bank
Denmark’s financial sector regulator said on Tuesday that the bank Spar Nord carries a ‘high risk’ of being used for money laundering and financing of terror activities.
The assessment was announced by the Danish Financial Supervisory Authority (Finanstilsynet) in a statement in which it also said it had issued Spar Nord with a number of orders to tackle the issue.
The North Jutland-based bank must implement sufficient checks and procedures for “effective prevention, limitation and control of money laundering and terror financing risks,” the regulator said.
Danish vocabulary: hvidvask - money laundering
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