During the financial crisis, the Danish government had to issue guarantees for kr. 4,200 billion. That is – believe it or not – 2½ times Denmark's gross domestic product. That was what it took to rescue the banking sector and the Danes' deposits. We don't want to end up in that situation again!
http://www.group30.org/images/PDF/Macroprudential_Report_Final.pdf Hart, Oliver and Luigi Zingales, (2010), “A new capital regulation for large financial institutions”, FEEM Working Paper No 124.2009. HM Treasury, (2011), “A new approach to financial regulation: the blueprint for reform”, June. http://www.hm-treasury.gov.uk/d/consult_financial_regulation_condoc.pdf Honohan, Patrick, (2010), “The Irish banking crisis, regulatory and financial stability policy 2003–2008”, a report to the Minister for Finance by the Governor of the Central Bank, May.