HANS CHRISTIAN ANDERSEN AND THE EURO.

We have just returned from visiting family in Copenhagen, Denmark. Although a small nation of some 5 million people, they have a stoical view of life; happy with high taxes, but as with Britain, retainers of their own currency, the Danish Kroner. It is difficult to assess whether or not they have serious personal debt problems, as is the case in Britain. Credit card facilities are available at most cash points; this doesn't suggest that everyone abuses the opportunity to pay later anymore than every Brit' takes advantage of all the credit possibilities. What did arise in conversation, is the effect that the Eurozone crisis could have on all nations in the European Union. I quickly pointed out that the repercussions will stretch far beyond Europe, as the whole of the western world has been relying on credit for far too long, both on a personal and national level.

How do we remove ourselves from this economic debacle? Unfortunately, only by going without the things that the 'credit abusers' have taken for granted. The main instigators of the situation have been national governments. In Britain, for example, the previous Labour Government spent much of its time pretending that we were well off, allowing the banks to lend money that did not exist. There is no suggestion here that the same occurred in Denmark, which, for a socialist country, the people display a small 'c' conservatism. One thing is for sure, all the EU nations will feel the draught when the bubble finally bursts, we can't sweep the problem under the carpet indefinitely.

Let me close with a footnote: Jazz is alive and surviving well in many of the City's drinking establishments.


DENMARK HAS A DISTINCT INDIVIDUALITY.