Denmark may reverse bank rules to protect mortgage system

Copenhagen

DENMARK says it may have gone too far in adopting European financial rules as it looks for ways to preserve its US$400 billion mortgage bond market. "I imagine that we may amend any over-implementation of what came from Brussels," Business Minister Troels Lund Poulsen said.

The Danes are pushing for greater regulatory freedom from the European Union as the UK's efforts to reset its relationship with the bloc open the door to intense haggling across the region. A deal intended to satisfy Prime Minister David Cameron may include two-track banking rules for EU countries inside and outside the single currency area, potentially giving non-euro-zone nations more flexibility.