Israel threatens to halt Denmark flights

[ktlight]

FYI:


Israel has threatened to halt all direct flights to Denmark after Copenhagen refused to allow Israeli security personnel to perform security checks at the country's main airport.


Tel Aviv had demanded that Israeli security personnel carry out independent security checks on passengers flying from Copenhagen to Tel Aviv on the newly-launched Israeli Arkia Airlines' Copenhagen-Tel Aviv route.

Israel had also demanded that Danish aviation authorities allow armed Israeli guards patrol certain 'Israeli security zones' at Copenhagen's Kastrup Airport.

Danish aviation authorities, however, rejected both demands, saying they are in sharp contrast with laws of freedom and human dignity.

Danish authorities offered to allow Israeli personnel to cooperate with Danish security staff in carrying out the security checks for Arkia Airlines, but the Israelis refused the offer.

The two sides held negotiations on the issue over the weekend, but no agreement was reached.

The Israeli decision to halt flights to Denmark is expected to leave thousands of passengers stranded.

Israel's Arkia Airlines is set to begin service on July 4.

source
http://www.presstv.ir/detail/186504.html

[Maia Gabrial]

One might get the impression that Israel is worried about retaliation or something....hmmmm.
Thanks ktlight, another good one...!

[oceanz]

Just a hunch but I think it may have more to do with this:


http://www.rte.ie/news/2011/0627/denmark-business.html

Denmark lets another bank failMonday, 27 June 2011

Denmark's Fjordbank Mors bank became the latest financial institution to fail over the weekend.

Danish bank shares drop - Fjordbank Mors bank collapses
Danske not looking to buy Irish assets
Danish bank shares fell today on concerns about the health of the country's small lenders after Fjordbank Mors became the latest to fail over the weekend.

Fjordbank Mors is the nineth Danish bank to collapse following the 2008-2009 financial crisis and the second to trigger a state-managed closure in which senior bondholders as well as shareholders will bear part of the losses.

The failure of Amagerbanken in February set a precedent in the European Union by making unsecured senior creditors liable for bank losses, highlighting the Danish government's resolve to shield taxpayers from the costs.

Shares in Danske Bank, Denmark's biggest financial institution and the owner of National Irish Bank here, were down 4% toay, while shares in several small banks plunged.

Fjordbank Mors said after the market closed on Friday that it would ask state administrators to take it over and wind up its business as it no longer met the Financial Supervisory Authority's (FSA) increased solvency requirement.

The bank and FSA reached agreement at the weekend on the state takeover by Finansiel Stabilitet, the state company that manages and winds up distressed banks.

The transfer of Fjordbank Mors to a subsidiary of Finansiel Stabilitet takes place under rules that took effect on October 1 last year. It involves no immediate financial risk to the state because depositors' and creditors' losses are covered by a deposit guarantee fund financed by the banking sector.

The Danish system contrasts with bank bail-outs across Europe, including Ireland.
Er, except for Iceland...


'We will not be involved with state aid,' Minister for Economic and Business Affairs Brian Mikkelsen said on Danish television. 'We think that it is not reasonable to give state crowns to banks that are run badly and have got themselves involved in risky businesses and lost money on that,' Mikkelsen said.

'It is not us as Danes that should pay for that,' he added.

Mikkelsen said that banks would continue to pay the costs of government bank aid packages.

Payment for Fjordbank Mors' assets was set at a preliminary 7.8 billion Danish crowns ($1.48 billion), corresponding to about 74% of unsecured senior liabilities, the FSA said in a statement.

'Creditors, including depositors with deposits exceeding €100,000 in Fjordbank Mors must therefore anticipate losses of approximately 26% as the bank closes,' the FSA said.

[Moonwish]

Just a hunch but I think it may have more to do with this:


http://www.rte.ie/news/2011/0627/denmark-business.html

Denmark lets another bank failMonday, 27 June 2011

Denmark's Fjordbank Mors bank became the latest financial institution to fail over the weekend.

Danish bank shares drop - Fjordbank Mors bank collapses
Danske not looking to buy Irish assets
Danish bank shares fell today on concerns about the health of the country's small lenders after Fjordbank Mors became the latest to fail over the weekend.

Fjordbank Mors is the nineth Danish bank to collapse following the 2008-2009 financial crisis and the second to trigger a state-managed closure in which senior bondholders as well as shareholders will bear part of the losses.

The failure of Amagerbanken in February set a precedent in the European Union by making unsecured senior creditors liable for bank losses, highlighting the Danish government's resolve to shield taxpayers from the costs.

Shares in Danske Bank, Denmark's biggest financial institution and the owner of National Irish Bank here, were down 4% toay, while shares in several small banks plunged.

Fjordbank Mors said after the market closed on Friday that it would ask state administrators to take it over and wind up its business as it no longer met the Financial Supervisory Authority's (FSA) increased solvency requirement.

The bank and FSA reached agreement at the weekend on the state takeover by Finansiel Stabilitet, the state company that manages and winds up distressed banks.

The transfer of Fjordbank Mors to a subsidiary of Finansiel Stabilitet takes place under rules that took effect on October 1 last year. It involves no immediate financial risk to the state because depositors' and creditors' losses are covered by a deposit guarantee fund financed by the banking sector.

The Danish system contrasts with bank bail-outs across Europe, including Ireland.
Er, except for Iceland...


'We will not be involved with state aid,' Minister for Economic and Business Affairs Brian Mikkelsen said on Danish television. 'We think that it is not reasonable to give state crowns to banks that are run badly and have got themselves involved in risky businesses and lost money on that,' Mikkelsen said.

'It is not us as Danes that should pay for that,' he added.

Mikkelsen said that banks would continue to pay the costs of government bank aid packages.

Payment for Fjordbank Mors' assets was set at a preliminary 7.8 billion Danish crowns ($1.48 billion), corresponding to about 74% of unsecured senior liabilities, the FSA said in a statement.

'Creditors, including depositors with deposits exceeding €100,000 in Fjordbank Mors must therefore anticipate losses of approximately 26% as the bank closes,' the FSA said.



This is why I still visit this site. Excellent connections and fact-finding!

I agree there is a strong link behind airline "reprisals" and banks being held accountable.

I hope we see lots more of this. These empty gestures of threat are getting quite stale, aren't they?