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Magnus Petersen - 1 Johannes Birkebaek - 1 Sharon Singleton - 1
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COPENHAGEN Denmark
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☆ Russian citizen sentenced to jail for attempted $3.5 bln fraud in Denmark
  + stars: | 2023-08-16 | by ( Johannes Birkebaek | ) www.reuters.com   time to read: +1 min
COPENHAGEN, Aug 16 (Reuters) - A 53-year-old Russian citizen has been sentenced to three years in prison for an attempted $3.5 billion fraud against the Danish National Bank, Danish police said in a statement on Wednesday. The man was arrested in October last year after he entered the National Bank with fake documents, claiming to be a representative from an investment company. The man, who wasn't named, has been held in custody since his arrest last year. He will serve his time in Denmark, after which he will be deported and banned from returning to the country. Reporting by Johannes Birkebaek; Editing by Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.
Persons: Magnus Petersen, Johannes Birkebaek, Sharon Singleton Organizations: Danish National Bank, National Bank, Thomson Locations: COPENHAGEN, Denmark
☆ The U.S. isn't the only country with a debt ceiling. Here's how Denmark avoids the drama
  + stars: | 2023-05-24 | by ( Elliot Smith | ) www.cnbc.com   time to read: +6 min
U.S. President Joe Biden hosts debt limit talks with U.S. House Speaker Kevin McCarthy (R-CA) in the Oval Office at the White House in Washington, U.S., May 22, 2023. Yet in Denmark — the only other democracy with a similar type of nominal debt ceiling — barely anybody knows it exists. Separation of church and state While the U.S. debt ceiling restricts government borrowing to a particular figure, most other economies set debt limits as a percentage of GDP. The Danish debt ceiling, or "gældsloft," was implemented as a constitutional requirement in 1993 after a restructure of the country's government, and set at 950 billion Danish kroner ($137.5 billion). Denmark is the only other country in the world with a debt ceiling comparable to that of the U.S., but it never causes the same political crises that Washington frequently faces.
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