5 January 2023
Today, Danmarks Nationalbank is publishing the seventh volume in its Monetary History of Denmark series (in Danish - an English version will be available later). The new volume covers the period 2005 to 2020, a very eventful 15-year period for the Danish economy and monetary history.
The period from 2005 to 2020 saw a global financial crisis, pressure on the Danish krone in 2008, a sovereign debt crisis in Europe from 2010 to 2012, a Danish krone crisis in 2015 and an unusually prolonged expansion of the Danish economy which was brought to an abrupt end by the coronavirus pandemic in 2020.
Following the global financial crisis, financial sector regulation was thoroughly revised to make the sector more resilient and to prevent similar crises in the future.
Around the middle of the period, Denmark was the first country to introduce negative monetary policy interest rates, and the use of cash for payments decreased year on year.
Increased digitalisation also required greater awareness of cybercrime as a new type of risk in the financial sector.
Monetary History of Denmark, Volume 7, is almost 230 pages long and contains a thorough and exciting review of the most important monetary policy and financial events in recent times. Each chapter contains a brief summary, giving the reader a clear overview of the content.
The author is Kim Abildgren, Chief Adviser at Danmarks Nationalbank, who also wrote the anniversary book published in connection with Danmarks Nationalbank's 200th anniversary in 2018. The seventh volume in the Monetary History of Denmark series complements the previous publications covering the years from 1700 to 2005. All volumes in the series can be found on the Danmarks Nationalbank website, www.nationalbanken.dk.
If you have any questions, please contact Press Adviser Ole Mikkelsen on tel. +45 3363 6027.