The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

Costly, but cosy Copenhagen still looks to Europe

Copenhagen is costly, but to great effect. Spend a bit, drink a bit and you'll end up enjoying a tradition of companionship, cosiness and conviviality. But Danes aren't inward-looking. They've stuck with their national currency, though many still favour regional integration.

Arriving in Copenhagen can be a nostalgic experience, even if you've never been there before. Travelling to the Danish capital from a eurozone country, you are taken back to the days before the January 1 2002 switch to euro notes and coins. Danish krone notes are larger and crisper than their euro counterparts. Their swirling geometric designs are printed in deeper, richer and brighter colours  – mauve, orange, dark green and royal blue. They carry portraits of national heroes. They feel like francs, pesetas, liras, marks, or guilders.

When you break a note to pay a taxi-driver or shopkeeper, your change is a handful of chunky bronze coins. Stamped on them are the trustworthy features of Queen Margrethe II, regally reassuring you that your money is immune from rows about rebates and referendums.

When Denmark held its own referendum on the euro in September 2000, the mainstream political consensus was that membership was desirable and inevitable. The Confederation of Danish Industry and the Copenhagen Stock Exchange supported the view that Denmark should adopt the euro at some point. Danish trade unions argued that a rejection of the single currency would cost 35,000 jobs. But more than 53% of those who turned out voted to keep the krone.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree