Nordic banks’ soft regulators invite U.S. wrath 19 Jun 2019 Shares in Danske and Swedbank have fallen sharply due to concerns about American probes into money laundering. A $900 million fine by Dutch regulators helped ING escape U.S. ire for similar breaches. Laws limiting penalties in Scandinavia mean banks there may not be so lucky.
Viewsroom: The $230 bln scam rocking Nordic banks 25 Oct 2018 Danish lender Danske has already lost its chief executive on news that one of its Estonian branches was used to launder Russian money. Now Nordea and others are facing questions. Plus: investors drive car stocks into a ditch - and Daimler's and Ford's dividends look vulnerable.
Danske tries to cauterize money-laundering wound 18 Jul 2018 Giving away gross profit from suspicious Estonian transactions could cost the Copenhagen-based lender up to $234 mln, or 8 pct of forecast earnings for 2018. The pledge may draw the sting of punishment from Danish authorities. But the bigger financial threat comes from the U.S.
A decade on, some EU values still look strong 2 May 2014 Eight of the 10 countries which joined the union on May 1, 2004 were former communist states. Since then both old and new members have gained, economically and culturally. The EU has proved remarkably strong. But its financial and political values look far less robust.
Krugman-piqued Estonia needs thicker skin 7 Jun 2012 The president of the tiny Baltic state has taken to Twitter to lash out at Paul Krugman, the New York Times columnist who cast aspersions on Estonia’s credentials as an austerity success story. Euro zone leaders are often irked by lecturing from abroad. They should get over it.