We cannot ignore that there is a real risk inherent in the design of the Danish adjustable-rate mortgages. A design that implies that loans worth more than kr. 500 billion must be refinanced every year to finance 30-year loans.
Zhou Xiaochuan: Issues related to the global financial crisis Address by Mr Zhou Xiaouchuan, Governor of the People's Bank of China, at the Global Think-tank Summit, Beijing, 3 July 2009. *  *  *  Ladies and Gentlemen, It is a great pleasure to attend the Global Think-tank Summit organized by the China Center for International Economic Exchanges (CCIEE).