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Spengler

Danske Bank last week cut off banking business with Israel’s Bank Hapoalim on “legal and ethical grounds.”

What are Danske Bank’s ethics?

According to Wikileaks cables, Danske Bank helped finance Tanchon, a North Korean trading company that sold ballistic missiles to Iran:

Tanchon has been involved in financing ballistic missile sales from KOMID to Iran’s Shahid Hemmat Industrial Group (SHIG). SHIG is the Iranian organization charged with developing Iran’s liquid- fueled ballistic missile program and is designated under UNSCR 1737 for an asset freeze.

The same State Department cable adds:

We previously raised with you in March 2006 our concern (REF L) that Tanchon Commercial Bank maintained a correspondent account with Den Danske Bank AS- Copenhagen. According to April 2009 Bankers Almanac information, Tanchon still maintains that account.

The cable, dated May 12, 2009, has the ID 09STATE48525_a.

Danske Bank claimed to have stopped doing so business with Iran in 2010, which is an acknowledgement that it was doing so previously. It did not state that it was doing so on “legal and ethical grounds.”

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All Comments   (7)
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Interesting article at tabletmag.com. . I think the title is "remember when the danes all wore yellow stars-except they didn't." The Danes have been trading on that myth just like the Dutch have used Anne Frank to pretend that they weren't docile and accomodating to the Nazis. The Baltic republics must be so envious.
38 weeks ago
38 weeks ago Link To Comment
Nuclearize the ME rendering Israeli deterrence useless, press them to shrink into indefensible borders, arrange hostiles on every border, try to limit their trade.... If all this is coincidental, isn't there too many "coincidences"?
To me it looks like something systemic is going on.
38 weeks ago
38 weeks ago Link To Comment
There is a strong consistency between the “ethical grounds” for severing ties with the Israeli economy and “ethical grounds” for helping North Korea ship missiles to Iran – the ethics of Immanuel Kant. My vehement opposition to the Kantian system of "ethics" is beside the point; Danske Bank is acting in a very consistent manner. The question is what to do about it.

One wonders what would happen if ordinary Europeans – and particularly ordinary Danes – decided to boycott Danske Bank and pushed the their governments to end its dealings with Danske Bank. One wonders what would happen if Nordea Bank were also hit with a massive boycott campaign. Using a boycott is a two-edged sword, but Danske Bank and Nordea Bank started it. Israelis ought to point out their role in countering a Muslim boycott of Denmark during and after the Mohammed Cartoons saga.
38 weeks ago
38 weeks ago Link To Comment
I don't see how Kant comes into it, except perhaps in the sense of my old teacher Sidney Morgenbesser's famous query, "Who do you think you are, Kant?"
38 weeks ago
38 weeks ago Link To Comment
Pardon me if I was too cryptic. Although I am referring generally to Kant's pedagogical philosophy propounded in “On Education”, I am specifically referring to a quote from “Conflict of the Faculties” where Immanuel Kant claims, “The euthanasia of Judaism is pure moral religion...”
38 weeks ago
38 weeks ago Link To Comment
"...cannot invest due to its corporate accountability rules."

Are Danish or EU regulations involved?
38 weeks ago
38 weeks ago Link To Comment
This isn't EU -- it's the Danes themselves.
38 weeks ago
38 weeks ago Link To Comment
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