Bruxelles End: This is Olli Rehn!
Copenhagen End: Hello Mr. Rehn, this is Claus Hjort calling from Copenhagen.
Bru: Ah, Hello, Mr Hjort, how may I assist you?
Cop: Yes, you see - we received a letter from the commision today - about the state of the Danish finances and the economy, and what you would like us to do about it?
Bru: Oh, you have received it? That's good. I'm sure you are happy with it?
Cop: That's just it - no we are not happy with it!
Bru: But, why? Mr Hjort, we explain that the Danish economy is in excellent health, and you should just move forward, make growth.
Cop: Ah, but you see Mr Rehn, that is not what we tell here at home. Here we say we have to cut our spending by 24 billion kroner. I think that is something like 3 billion €.
Bru: But whatever for? I really must advise against that, Mr Hjort. That will significantly lower your expected growth - which is bad, not just for you but also for Greece and Spain - if you don't buy their olives, they will have a harder time getting out of this crisis.
Cop: But we are saying you will punish us, if we don't save these money...
Bru: What kind of bogeyman are you making us out to be, Mr Hjort? Even if we wanted you to cut your budget, we have no jurisdiction in Denmark - you are, sadly, not part of the Euro. So - as you well know - we can guide you, but we cannot really do anything else.
Cop: But we've been saying, that if we don't do these cuts, then we will end up like Greece or Portugal!
Bru: Mr Hjort, you frighten me. As it is, your Central Bank have a problem making room for all the foreign currency going to Denmark. If this goes on you will have to make negative interest, to keep in lign with the €.
Cop: The bottom line is, Mr Rehn, we need you to go back on your earlier statement, and say we need to make cuts of 24 billion kroner! Otherwise, we will make a huge stink, and go to the greeks and the spaniards and the portuguese, and say it is only them who has to meet these demands, and not us i Denmark, and Germany, and Belgium and Holland, and so on!
Bru: But that is not correct, Mr Hjort?!
Cop: It is if I say it is.
Bru: Mr Hjort, do you understand what that will mean? It will mean riots in the streets of Athens and Lisboa; people killed perhaps. Remember what happened in the bank in Athens a few weeks back?
Cop: So be it!
Bru: So you want me to make a new statement, saying your country needs a tighter budget, when it doesn't; saying we will punish you if you don't - when we can't. Or you will stir trouble in the south.
Cop: Yes. 24 billion Danish kroner.
Bru: That's ridiculous. But really, I have more important matters to deal with, and anyway, I have no jurisdiction over you. I will have something sent to you later this afternoon.
Cop: That is very good of you, mr Commisioner. I'm glad we were able to see things the same way!
Bru: * inaudible grumble *
Copenhagen End: Hello Mr. Rehn, this is Claus Hjort calling from Copenhagen.
Bru: Ah, Hello, Mr Hjort, how may I assist you?
Cop: Yes, you see - we received a letter from the commision today - about the state of the Danish finances and the economy, and what you would like us to do about it?
Bru: Oh, you have received it? That's good. I'm sure you are happy with it?
Cop: That's just it - no we are not happy with it!
Bru: But, why? Mr Hjort, we explain that the Danish economy is in excellent health, and you should just move forward, make growth.
Cop: Ah, but you see Mr Rehn, that is not what we tell here at home. Here we say we have to cut our spending by 24 billion kroner. I think that is something like 3 billion €.
Bru: But whatever for? I really must advise against that, Mr Hjort. That will significantly lower your expected growth - which is bad, not just for you but also for Greece and Spain - if you don't buy their olives, they will have a harder time getting out of this crisis.
Cop: But we are saying you will punish us, if we don't save these money...
Bru: What kind of bogeyman are you making us out to be, Mr Hjort? Even if we wanted you to cut your budget, we have no jurisdiction in Denmark - you are, sadly, not part of the Euro. So - as you well know - we can guide you, but we cannot really do anything else.
Cop: But we've been saying, that if we don't do these cuts, then we will end up like Greece or Portugal!
Bru: Mr Hjort, you frighten me. As it is, your Central Bank have a problem making room for all the foreign currency going to Denmark. If this goes on you will have to make negative interest, to keep in lign with the €.
Cop: The bottom line is, Mr Rehn, we need you to go back on your earlier statement, and say we need to make cuts of 24 billion kroner! Otherwise, we will make a huge stink, and go to the greeks and the spaniards and the portuguese, and say it is only them who has to meet these demands, and not us i Denmark, and Germany, and Belgium and Holland, and so on!
Bru: But that is not correct, Mr Hjort?!
Cop: It is if I say it is.
Bru: Mr Hjort, do you understand what that will mean? It will mean riots in the streets of Athens and Lisboa; people killed perhaps. Remember what happened in the bank in Athens a few weeks back?
Cop: So be it!
Bru: So you want me to make a new statement, saying your country needs a tighter budget, when it doesn't; saying we will punish you if you don't - when we can't. Or you will stir trouble in the south.
Cop: Yes. 24 billion Danish kroner.
Bru: That's ridiculous. But really, I have more important matters to deal with, and anyway, I have no jurisdiction over you. I will have something sent to you later this afternoon.
Cop: That is very good of you, mr Commisioner. I'm glad we were able to see things the same way!
Bru: * inaudible grumble *
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