The Trader 

Nordic model darkens

The Trader

Almost two years ago, I wrote a piece entitled: Seriously Scandi, and ‘noir’. I had noticed a disconnect between the socialist utopia we had been fed with moves in financial markets. I predicted that the Swedish krona, which was already very weak against the euro, would weaken a lot more, which it has done, comfortably meeting our target. This week the Financial Times reported that an independent investigation had found Danske Bank’s Estonia branch had been laundering Russian money from 2007 to 2015, to the tune of up to $30bn (£23bn) in a single year; not so squeaky clean.

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