The Danes sought clarity from the EC regarding bondholders. The European Commission have told the Danes that in the event of a bank failure that they should not bail out bondholders but rather let them take the hit. So, if the EC have told Denmark this is the course of action they should follow then why the hell are we bailing out the bondholders? The EC issued those guidlines last Friday.
Just heard David McWilliams talking about it on Newstalk.
Maybe others have raised this topic before but this is the first I've heard of the EC having issued guidelines on it. Thanks.