S&P feels as many as 15 Danish banks could still default

Ratings agency Standard & Poor's says in a new report entitled "Further Bank Failures Likely In Denmark" that Danish banking crisis is far from over. Boom-time loans are still said to be the culprit. There are around 100 banks in the small nation of Denmark. Many small banks are stock market listed and have been trading very volatile (with a host of them priced at near bankruptcy valuations) in the aftermath of the failures of Amagerbanken and Fjordbank Mors.