Monetary reforms in comparison - Denmark (1813) and Germany (1948)

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International and European Monetary Law. Bangladesh Quarterly Economic Update. Wage Moderation in Crises. Inflation, Deflation, and Unemployment. Trade and the Crisis: Greenland and the Faroe Islands have their own home governments and parliaments and are effectively self-governing in regards to domestic affairs. Politics in Denmark operate under a framework laid out in the Constitution of Denmark. The monarch officially retains executive power and presides over the Council of State privy council. The Monarch is not answerable for his or her actions, and their person is sacrosanct.

The Danish Parliament is unicameral and called the Folketing Danish: It is the legislature of the Kingdom of Denmark, passing acts that apply in Denmark and, variably, Greenland and the Faroe Islands. The Folketing is also responsible for adopting the state's budgets , approving the state's accounts, appointing and exercising control of the Government, and taking part in international co-operation.

Bills may be initiated by the Government or by members of parliament. All bills passed must be presented before the Council of State to receive Royal Assent within thirty days in order to become law. Denmark is a representative democracy with universal suffrage. Danes elect members to the Folketing, with Greenland and the Faroe Islands electing an additional two members each— members in total.

On a vote of no confidence , the Folketing may force a single minister or an entire government to resign. The Government of Denmark operates as a cabinet government , where executive authority is exercised—formally, on behalf of the Monarch—by Prime Minister and other cabinet ministers , who head ministries. As the executive branch, the Cabinet is responsible for proposing bills and a budget, executing the laws, and guiding the foreign and internal policies of Denmark.

The position of prime minister belongs to the person most likely to command the confidence of a majority in the Folketing; this is usually the current leader of the largest political party or, more effectively, through a coalition of parties. A single party generally does not have sufficient political power in terms of the number of seats to form a cabinet on its own; Denmark has often been ruled by coalition governments , themselves sometimes minority governments dependent on non-government parties. Rasmussen became the leader of a cabinet that, unusually, consisted entirely of ministers from his own party.

In the next cabinet , created November , there are several political parties represented. Denmark has a civil law system with some references to Germanic law. Denmark resembles Norway and Sweden in never having developed a case-law like that of England and the United States nor comprehensive codes like those of France and Germany. Much of its law is customary. The judicial system of Denmark is divided between courts with regular civil and criminal jurisdiction and administrative courts with jurisdiction over litigation between individuals and the public administration.

Articles sixty-two and sixty-four of the Constitution ensure judicial independence from government and Parliament by providing that judges shall only be guided by the law, including acts, statutes and practice. The Danish Supreme Court is the highest civil and criminal court responsible for the administration of justice in the Kingdom. Denmark wields considerable influence in Northern Europe and is a middle power in international affairs.

As a member of Development Assistance Committee DAC , Denmark has for a long time been among the countries of the world contributing the largest percentage of gross national income to development aid. In , Denmark contributed 0. Denmark's armed forces are known as the Danish Defence Danish: The Minister of Defence is commander-in-chief of the Danish Defence, and serves as chief diplomatic official abroad.

During peacetime, the Ministry of Defence employs around 33, in total. The main military branches employ almost 27, Furthermore, around 55, serve as volunteers in the Danish Home Guard. Denmark is a long-time supporter of international peacekeeping , but since the NATO bombing of Yugoslavia in and the War in Afghanistan in , Denmark has also found a new role as a warring nation, participating actively in several wars and invasions.

This relatively new situation has stirred some internal critique, but the Danish population has generally been very supportive, in particular of the War in Afghanistan. Denmark has a developed mixed economy that is classed as a high-income economy by the World Bank. Denmark has the fourth highest ratio of tertiary degree holders in the world.

The country has a market income inequality close to the OECD average, [] [] but after taxes and public cash transfers the income inequality is considerably lower. According to Eurostat , Denmark's Gini coefficient for disposable income was the 7th-lowest among EU countries in Once a predominantly agricultural country on account of its arable landscape, since Denmark has greatly expanded its industrial base and service sector.

The country's main export goods are: By 1 July , the net international investment position or net foreign assets of Denmark was equal to A liberalisation of import tariffs in marked the end of mercantilism and further liberalisation in the 19th and the beginning of the 20th century established the Danish liberal tradition in international trade that was only to be broken by the s.

Several domestic commercial policies are determined by agreements among European Union EU members and by EU legislation. Denmark's currency, the krone DKK , is pegged at approximately 7. Although a September referendum rejected adopting the euro , [] the country follows the policies set forth in the Economic and Monetary Union of the European Union and meets the economic convergence criteria needed to adopt the euro. The majority of the political parties in the Folketing support joining the Economic and Monetary Union of the European Union EMU, but since opinion polls have consistently shown a clear majority against adopting the euro.

Ranked by turnover in Denmark, the largest Danish companies are: Danes enjoy a high standard of living and the Danish economy is characterised by extensive government welfare provisions. Denmark has the 2nd lowest relative poverty rate in the OECD , below the Like other Nordic countries, Denmark has adopted the Nordic Model , which combines free market capitalism with a comprehensive welfare state and strong worker protection. Employers can hire and fire whenever they want flexibility , and between jobs, unemployment compensation is relatively high security. The level of unemployment benefits is dependent on former employment and normally on membership of an unemployment fund, which is usually closely connected to a trade union, and previous payment of contributions.

Denmark has a long tradition of scientific and technological invention and engagement, and has been involved internationally from the very start of the scientific revolution. In the 20th century, Danes have also been innovative in several fields of the technology sector. Danish companies have been influential in the shipping industry with the design of the largest and most energy efficient container ships in the world, the Maersk Triple E class , and Danish engineers have contributed to the design of MAN Diesel engines.

In the software and electronic field, Denmark contributed to design and manufacturing of Nordic Mobile Telephones , and the now-defunct Danish company DanCall was among the first to develop GSM mobile phones. Life science is a key sector with extensive research and development activities. Danish engineers are world-leading in providing diabetes care equipment and medication products from Novo Nordisk and, since , the Danish biotech company Novozymes , the world market leader in enzymes for first generation starch based bioethanol , has pioneered development of enzymes for converting waste to cellulosic ethanol.

Danish-born computer scientists and software engineers have taken leading roles in some of the world's programming languages: Physicist Lene Vestergaard Hau is the first person to stop light, leading to advances in quantum computing , nanoscale engineering and linear optics. Denmark has considerably large deposits of oil and natural gas in the North Sea and ranks as number 32 in the world among net exporters of crude oil [] and was producing , barrels of crude oil a day in In wind turbines provided On 6 September , Denmark launched the biggest wind turbine in the world, and will add four more over the next four years.

Denmark's electricity sector has integrated energy sources such as wind power into the national grid. Denmark now aims to focus on intelligent battery systems V2G and plug-in vehicles in the transport sector. Significant investment has been made in building road and rail links between regions in Denmark, most notably the Great Belt Fixed Link , which connects Zealand and Funen.

It is now possible to drive from Frederikshavn in northern Jutland to Copenhagen on eastern Zealand without leaving the motorway. The railway tracks are maintained by Banedanmark.

History of Denmark - Wikipedia

The North Sea and the Baltic Sea are intertwined by various, international ferry links. In the four largest cities — Copenhagen , Aarhus , Odense , Aalborg — light rail systems are planned to be in operation around Cycling in Denmark is a very common form of transport, particularly for the young and for city dwellers. Private vehicles are increasingly used as a means of transport.

The purpose of the tax is to discourage car ownership. In , an attempt was made by the government to favour environmentally friendly cars by slightly reducing taxes on high mileage vehicles. However, this has had little effect, and in Denmark experienced an increase in the import of fuel inefficient old cars, [] as the cost for older cars—including taxes—keeps them within the budget of many Danes. As of [update] , the average car age is 9. Copenhagen Airport is Scandinavia's busiest passenger airport, handling over 25 million passengers in Population by ancestry Q1 [11]. The population of Denmark, as registrated by Statistics Denmark , was 5.

The total fertility rate in is 1. The World Happiness Report frequently ranks Denmark's population as the happiest in the world. Denmark is a historically homogeneous nation. There are no official statistics on ethnic groups , but according to figures from Statistics Denmark, Danish is the de facto national language of Denmark. Danish is more distantly related to German, which is a West Germanic language.

Greenlandic or "Kalaallisut" belongs to the Eskimo—Aleut languages ; it is closely related to the Inuit languages in Canada, such as Inuktitut , and entirely unrelated to Danish. Christianity is the dominant religion in Denmark. In January , The Constitution states that a member of the Royal Family must be a member of the Church of Denmark, though the rest of the population is free to adhere to other faiths.

Roman Catholicism , the Reformed Church and Judaism , [] although conversion to these groups from the Church of Denmark remained illegal initially. Until the s, the state formally recognised "religious societies" by royal decree. Today, religious groups do not need official government recognition, they can be granted the right to perform weddings and other ceremonies without this recognition. All educational programmes in Denmark are regulated by the Ministry of Education and administered by local municipalities.

Folkeskole covers the entire period of compulsory education, encompassing primary and lower secondary education. There are no final examinations, but pupils can choose to go to a test when finishing ninth grade 14—15 years old. The test is obligatory if further education is to be attended. Pupils can alternatively attend an independent school friskole , or a private school privatskole , such as Christian schools or Waldorf schools. Following graduation from compulsory education, there are several continuing educational opportunities; the Gymnasium STX attaches importance in teaching a mix of humanities and science, Higher Technical Examination Programme HTX focuses on scientific subjects and the Higher Commercial Examination Programme emphasises on subjects in economics.

For specific professions, there is vocational education , training young people for work in specific trades by a combination of teaching and apprenticeship. Many programmes may be taught in the English language , the academic lingua franca , in bachelor's degrees , master's degrees , doctorates and student exchange programmes.

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As of [update] , Denmark has a life expectancy of The National Institute of Public Health of the University of Southern Denmark has calculated 19 major risk factors among Danes that contribute to a lowering of the life expectancy; this includes smoking, alcohol, drug abuse and physical inactivity. Denmark has a universal health care system , characterised by being publicly financed through taxes and, for most of the services, run directly by the regional authorities.

One of the sources of income is a national health care contribution sundhedsbidrag — This means that most health care provision is free at the point of delivery for all residents. Additionally, roughly two in five have complementary private insurance to cover services not fully covered by the state, such as physiotherapy.

Denmark is the only country to officially use the word 'ghetto' in the 21st century to denote certain residential areas. The population proportion of 'ghetto residents' with non-Western background was Denmark shares strong cultural and historic ties with its Scandinavian neighbours Sweden and Norway.

It has historically been one of the most socially progressive cultures in the world. In , Denmark was the first country to legalise pornography , [] and in , Denmark replaced its " registered partnership " laws, which it had been the first country to introduce in , [] [] with gender-neutral marriage. The astronomical discoveries of Tycho Brahe — , Ludwig A. Colding 's —88 neglected articulation of the principle of conservation of energy , and the contributions to atomic physics of Niels Bohr — indicate the range of Danish scientific achievement. From the mids, Danish films have attracted international attention, especially those associated with Dogme 95 like those of Lars von Trier.

A major feature of Danish culture is Jul Danish Christmas. The holiday is celebrated throughout December, starting either at the beginning of Advent or on 1 December with a variety of traditions, culminating with the Christmas Eve meal. Danish mass media date back to the s, when handwritten fly sheets reported on the news.

In , Anders Bording , the father of Danish journalism, began a state paper. In , the first liberal, factual newspaper appeared, and the Constitution established lasting freedom of the press in Denmark. Newspapers flourished in the second half of the 19th century, usually tied to one or another political party or trade union.

Modernisation, bringing in new features and mechanical techniques, appeared after The total circulation was , daily in , more than doubling to 1.

During the war, the underground produced newspapers—small, surreptitiously printed sheets that encouraged sabotage and resistance. Danish cinema dates back to and since the s has maintained a steady stream of product due largely to funding by the state-supported Danish Film Institute.

There have been three big internationally important waves of Danish cinema: Danish films have been noted for their realism, religious and moral themes, sexual frankness and technical innovation.

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The Danish filmmaker Carl Th. Dreyer — is considered one of the greatest directors of early cinema. In the modern era, notable filmmakers in Denmark include Lars von Trier , who co-created the Dogme movement, and multiple award-winners Susanne Bier and Nicolas Winding Refn. Danish mass media and news programming are dominated by a few large corporations. In television , publicly owned stations DR and TV 2 have large shares of the viewers. In radio, DR has a near monopoly, currently broadcasting on all four nationally available FM channels, competing only with local stations.

Copenhagen and its multiple outlying islands have a wide range of folk traditions. The Royal Danish Orchestra is among the world's oldest orchestras. Danes have distinguished themselves as jazz musicians, and the Copenhagen Jazz Festival has acquired an international reputation. Lars Ulrich , the drummer of the band Metallica , has become the first Danish musician to be inducted into the Rock and Roll Hall of Fame.

Denmark has been a part of the Eurovision Song Contest since Denmark has won the contest three times, in , and Denmark's architecture became firmly established in the Middle Ages when first Romanesque , then Gothic churches and cathedrals sprang up throughout the country. From the 16th century, Dutch and Flemish designers were brought to Denmark, initially to improve the country's fortifications, but increasingly to build magnificent royal castles and palaces in the Renaissance style. During the 17th century, many impressive buildings were built in the Baroque style, both in the capital and the provinces.

Neoclassicism from France was slowly adopted by native Danish architects who increasingly participated in defining architectural style. A productive period of Historicism ultimately merged into the 19th-century National Romantic style. The 20th century brought along new architectural styles; including expressionism , best exemplified by the designs of architect Peder Vilhelm Jensen-Klint , which relied heavily on Scandinavian brick Gothic traditions; and Nordic Classicism , which enjoyed brief popularity in the early decades of the century.

It was in the s that Danish architects such as Arne Jacobsen entered the world scene with their highly successful Functionalist architecture. Danish design is a term often used to describe a style of functionalistic design and architecture that was developed in the midth century, originating in Denmark. Danish design is typically applied to industrial design, furniture and household objects, which have won many international awards.

The Royal Porcelain Factory is famous for the quality of its ceramics and export products worldwide. The first known Danish literature is myths and folklore from the 10th and 11th century. Saxo Grammaticus , normally considered the first Danish writer, worked for bishop Absalon on a chronicle of Danish history Gesta Danorum. Very little is known of other Danish literature from the Middle Ages. With the Age of Enlightenment came Ludvig Holberg whose comedy plays are still being performed. In the late 19th century, literature was seen as a way to influence society.

Romanticism influenced the renowned writer and poet Hans Christian Andersen , known for his stories and fairy tales , e. Karen Blixen is famous for her novels and short stories. Danish philosophy has a long tradition as part of Western philosophy. Among Kierkegaard's other followers include Jean-Paul Sartre who was impressed with Kierkegaard's views on the individual, and Rollo May , who helped create humanistic psychology. Another Danish philosopher of note is Grundtvig , whose philosophy gave rise to a new form of non-aggressive nationalism in Denmark, and who is also influential for his theological and historical works.

While Danish art was influenced over the centuries by trends in Germany and the Netherlands, the 15th- and 16th-century church frescos , which can be seen in many of the country's older churches, are of particular interest as they were painted in a style typical of native Danish painters. The Danish Golden Age , which began in the first half of the 19th century, was inspired by a new feeling of nationalism and romanticism, typified in the later previous century by history painter Nicolai Abildgaard.

In , Holger Drachmann and Karl Madsen visited Skagen in the far north of Jutland where they quickly built up one of Scandinavia's most successful artists' colonies specialising in Naturalism and Realism rather than in the traditional approach favoured by the Academy. Hosted by Michael and his wife Anna , they were soon joined by P. All participated in painting the natural surroundings and local people.

Painting has continued to be a prominent form of artistic expression in Danish culture, inspired by and also influencing major international trends in this area. These include impressionism and the modernist styles of expressionism , abstract painting and surrealism. While international co-operation and activity has almost always been essential to the Danish artistic community, influential art collectives with a firm Danish base includes De Tretten — , Linien s and s , COBRA —51 , Fluxus s and s , De Unge Vilde s and more recently Superflex founded in Most Danish painters of modern times have also been very active with other forms of artistic expressions, such as sculpting, ceramics, art installations, activism, film and experimental architecture.

Danish photography has developed from strong participation and interest in the very beginnings of the art of photography in to the success of a considerable number of Danes in the world of photography today. Pioneers such as Mads Alstrup and Georg Emil Hansen paved the way for a rapidly growing profession during the last half of the 19th century. Today Danish photographers such as Astrid Kruse Jensen and Jacob Aue Sobol are active both at home and abroad, participating in key exhibitions around the world.

The traditional cuisine of Denmark, like that of the other Nordic countries and of Northern Germany , consists mainly of meat, fish and potatoes. Danish dishes are highly seasonal, stemming from the country's agricultural past, its geography, and its climate of long, cold winters. Denmark is known for its Carlsberg and Tuborg beers and for its akvavit and bitters. Since around , chefs and restaurants across Denmark have introduced gourmet cooking, largely influenced by French cuisine.

Also inspired by continental practices, Danish chefs have recently developed a new innovative cuisine and a series of gourmet dishes based on high-quality local produce known as New Danish cuisine. This includes Geranium and Noma in Copenhagen. Sports are popular in Denmark, and its citizens participate in and watch a wide variety.

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The national sport is football , with over , players in more than clubs. There is much focus on handball , too. The women's national team celebrated great successes during the s. On the men's side , Denmark has won eight medals—two gold in and , three silver in , and and three bronze in , and —the most that have been won by any team in European Handball Championship history. In recent years, Denmark has made a mark as a strong cycling nation, with Michael Rasmussen reaching King of the Mountains status in the Tour de France in and Other popular sports include golf—which is mostly popular among those in the older demographic; [] tennis —in which Denmark is successful on a professional level; basketball —Denmark joined the international governing body FIBA in ; [] rugby—the Danish Rugby Union dates back to ; [] hockey — often competing in the top division in the Men's World Championships; rowing—Denmark specialise in lightweight rowing and are particularly known for their lightweight coxless four, having won six gold and two silver World Championship medals and three gold and two bronze Olympic medals; and several indoor sports—especially badminton , table tennis and gymnastics, in each of which Denmark holds World Championships and Olympic medals.

Denmark's numerous beaches and resorts are popular locations for fishing, canoeing, kayaking, and many other water-themed sports. From Wikipedia, the free encyclopedia. This is the latest accepted revision , reviewed on 18 December For other uses, see Denmark disambiguation. Sovereign state and Scandinavian country in northern Europe.

Der er et yndigt land There is a lovely country. Church of Denmark Church of the Faroe Islands. History of the Faroe Islands and History of Greenland. Viking Age and Kalmar Union. Denmark—Norway and Danish colonial empire. Geography of the Faroe Islands and Geography of Greenland. Regions of Denmark and Municipalities of Denmark.

The 2- and 5-mark coins have often been used for commemorative themes, though typically only the generic design for the 5 marks is intended for circulation. Commemorative silver mark coins have also been issued which have periodically found their way into circulation. Unlike other European countries, Germany retained the use of the smallest coins 1 and 2 pfennigs until adoption of the euro. The weights and dimensions of the coins can be found in an FAQ of the Bundesbank. Unlike other countries such as Australia there was no attempt or proposal suggested for the withdrawal of the 1- and 2-pfennig coins.

Both coins were still in circulation in and supermarkets in particular still marked prices to the nearest pfennig.



This penchant for accuracy continues with the euro while Finland or the Netherlands for example, price to the nearest 5 cents with the 1-cent coin still encountered in Germany. There were a considerable number of commemorative silver DM 5 and DM 10 coins , which actually had the status of legal tender but were rarely seen outside of collectors' circles. On 27 December , the German government enacted a law authorizing the Bundesbank to issue, in , a special. The coin had the exact design and dimensions of the circulating cupro-nickel DM 1 coin, with the exception of the inscription on the reverse, which read "Deutsche Bundesbank" instead of "Bundesrepublik Deutschland" , as the Bundesbank was the issuing authority in this case.

A total of one million gold 1-mark coins were minted , at each of the five mints and were sold beginning in mid through German coin dealers on behalf of the Bundesbank. The issue price varied by dealer but averaged approximately United States dollars. German coins bear a mint mark, indicating where the coin was minted. The mint mark A was also used for German mark coins minted in Berlin beginning in following the reunification of Germany. These mint marks have been continued on the German euro coins. Between July 1, the currency union with East Germany and July 1, , East German coins in denominations up to 50 pfennigs continued to circulate as Deutsche Mark coins at their face value, owing to a temporary shortage of small coins.

These coins were legal tender only in the territory of the former East Germany. In colloquial German the pfennig coin was sometimes called a groschen cf. Likewise, sechser sixer could refer to a coin of 5 pfennigs. Both colloquialisms refer to several pre currencies of the previously independent states notably Prussia , where a groschen was subdivided into 12 pfennigs, hence half a groschen into 6. After , 12 old pfennigs would be converted into 10 pfennigs of the mark, hence pfennig coins inherited the "Groschen" name and 5-pfennig coins inherited the "sechser" name.

Both usages are only regional and may not be understood in areas where a Groschen coin did not exist before In particular, the usage of "sechser" is less widespread. A reserve series BBk II was commissioned on July 1, , consisting of 10, 20, 50 and mark banknotes. The notes were printed between and in fear if the Eastern Bloc would start systematically counterfeiting the BBk I series of banknotes to cripple the economy, then they would quickly be replaced by emergency notes.

Monetary Reforms in Comparison - Denmark (1813) and Germany (1948) (Paperback)

The design of German banknotes remained unchanged during the s, s and s. During this period, forgery technology made significant advances and so, in the late s, the Bundesbank decided to issue a new series of Deutsche Mark banknotes. Famous national artists and scientists were chosen to be portrayed on the new banknotes. Male and female artists were chosen in equal numbers.

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The buildings in the background of the notes' obverses had a close relationship to the person displayed e. The reverses of the notes refer to the work of the person on the obverse. The new security features were: The reason for this gradual introduction was, that public should become familiar with one single denomination, before introducing a new one. The last three denominations were rarely seen in circulation and were introduced in one step.

Furthermore, the colours were changed slightly to hamper counterfeiting.



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The German name of the currency is Deutsche Mark fem. In German, the adjective "deutsche" adjective for "German" in feminine singular nominative form is capitalized because it is part of a proper name, while the noun "Mark", like all German nouns, is always capitalized. The English loanword "Deutschmark" has a slightly different spelling and one syllable fewer possibly due to the frequency of silent e in English , and a plural form in -s.

In Germany and other German speaking countries, the currency's name was often abbreviated as D-Mark fem. Like Deutsche Mark , D-Mark and Mark do not take the plural in German when used with numbers like all names of units , the singular being used to refer to any amount of money e. The subdivision unit is spelled Pfennig masc.

The official form is singular. Before the switch to the euro, the Deutsche Mark was the largest international reserve currency after the United States dollar. The percental composition of currencies of official foreign exchange reserves from to From Wikipedia, the free encyclopedia. For other uses, see DEM disambiguation. This article is about the Deutsche mark issued by the Federal Republic of Germany. For the currency of the German Empire from to , see German gold mark.