News Headlines - 03 July 2011

▽The Danish Lesson: Copenhagen finds a bank that is not too big to fail - Wall Street Journal
http://online.wsj.com/article/SB10001424052702304450604576417400002965920.html?mod=googlenews_wsj
For the second time this year, the Danish government has done a remarkable thing: It has shut down a failed bank—and imposed losses on the bank's senior creditors in the process. Fjordbank Mors, a small bank even by Danish standards, threw itself at the mercy of the government last Friday after regulators found that it lacked adequate capital.

▽Several Danish lenders receive ratings cut - Financial Times
http://www.ft.com/intl/cms/s/0/af2b1508-a41d-11e0-8b4f-00144feabdc0.html
Several Danish mortgage lenders have had their credit ratings cut by Moody’s in another sign of pressure on Denmark’s financial sector.
The rating agency expressed concern over the country’s fragile property market and economy as well as the rising borrowing costs facing Danish lenders.

▽David Cameron: Taxes must rise to reform elderly care - Telegraph.co.uk
http://www.telegraph.co.uk/health/healthnews/8614651/David-Cameron-Taxes-must-rise-to-reform-elderly-care.html
Taxes will have to be raised or public spending cut even more to pay for sweeping reforms to Britain’s elderly care system, David Cameron has concluded.

▽MPs misled over impact of welfare changes on homelessness - The Guardian
http://www.guardian.co.uk/politics/2011/jul/03/mps-misled-welfare-changes-homelessness
Liam Byrne insists leaked letter from Eric Pickles office shows ministers 'haven't been straight with the House of Commons'

▽Alastair Campbell diaries: Blair and Brown's stark and debilitating divisions - The GUardian
http://www.guardian.co.uk/politics/2011/jul/03/alastair-campbell-diaries-blair-brown
In his new volume of diaries, Campbell describes the tensions that cast a shadow over the government at home and abroad