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 were the main reasons for the management change at Danske Bank?

How much suspicious funds were reported to have been funneled through the Estonia branch?

What are the potential penalties that Danske Bank might face due to the scandal?

What impact did the scandal have on Denmark's financial institutions?

Discuss the implications of the Danske Bank scandal on European banking regulations.