For a very readable account, see chapter 11 of Alan S. Blinder (2013), After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead (New York: Penguin Books). 25  Tarullo (2009), p.2.
*  *  *  It now seems probable that the Danish economy reached a trough in the autumn of 2003 and that an upswing has set in; an upswing which has not been acknowledged until now, near the middle of 2004.