Concluding, I do not think there is an explicit currency war, but the risk of diverging and uncoordinated national policies, focused exclusively on an internal dimension and short term objectives, is becoming more worrying. We must make our policies more global, more aware of the need of taking into account the impact they have on each other.
This also applies if fixed-exchange-rate policy is introduced in the form of participation in a monetary union. Thanks to our relatively solid starting point, Denmark has been less affected by the debt crisis than many other countries. The most important real economic issue is that Danish economic growth is low partly due to poor consumer and business confidence.