There has also been a separate debate on how abandoning the rule book, driven by the tyranny of the shortterm, is compromising medium-term sustainability. What is clearly beyond debate though is that this Great Recession of 2008/09 is going to be deeper and the recovery longer than earlier thought.
The Danish market for euro and dollar liquidity is considerable, and intervention via the FX swap market also entails drawing substantial amounts on the foreign-exchange reserve. Pressure on the krone prompted Danmarks Nationalbank to intervene heavily directly in the foreign-exchange market in late September and the first weeks of October.