Danske CEO Thomas Borgen Will Leave Bank

The transcript discusses a major scandal involving Danska Bank, which has raised concerns about Denmark's financial health. The CEO, Thomas Borgen, is set to resign due to management failures. The bank is unable to accurately estimate the suspicious funds involved, initially thought to be $3.9 billion, now reported as high as $9 billion. The scandal has led to a significant drop in the bank's stock value and potential penalties similar to those faced by ING. Criminal investigations are underway in Denmark, Estonia, and the US, with implications for European financial regulation.

What was one of the main concerns for Denmark following the Danska Bank scandal?

• The immediate closure of Danska Bank

• The resignation of the entire board

• The increase in interest rates

• The impact on Denmark's AAA credit rating

What was the estimated range of suspicious funds involved in the Danska Bank scandal?

• 3 to 4 billion U.S. dollars

• 1 to 2 billion U.S. dollars

• 8 to 9 billion U.S. dollars

• 10 to 11 billion U.S. dollars

What was the expected financial penalty for Danska Bank compared to ING's settlement?

• Less than 500 million U.S. dollars

• Similar to ING's 900 million U.S. dollars

• More than 1 billion U.S. dollars

• No financial penalty expected

Which countries were involved in the criminal investigations related to the Danska Bank scandal?

• Denmark, Estonia, and the United States

• United States, Canada, and Mexico

• Denmark, Germany, and France

• Estonia, Russia, and China

Where did the Danska Bank scandal originate?

• Copenhagen, Denmark

• Tallinn, Estonia

• Moscow, Russia

• Berlin, Germany