Danish candour contrasts with our credibility gap

15th August, 2009

Last week, Peter Straarup, executive chairman of Danske Bank, gave an honest assessment of his bank’s decision to acquire National Irish Bank (NIB) in 2005.

‘‘Obviously, when you look at the developments in the Irish market, it would have been nice to have a rear-view mirror that told you what was going to happen in the future,” said Straarup, after NIB reported after-tax losses of €341 million for the six months to June....

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