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The two top economists Martin Enlund and Andreas Steno Larsen are leaving Nordea. Both Enlund and Larsen have been suspended since November after writing a controversial analysis. It was criticized for being vaccine skeptical and contained a Nazi reference.
Larsen has been chief strategist, while Enlund has been chief analyst at the bank. According to the Danish news agency Ritzau, the two have been offered to continue in Nordea, but have chosen to leave the bank.
The analysis was withdrawn shortly after publication, and economists were suspended while Nordea launched an investigation. The survey was published on Monday, and concluded that the statements and references in it do not correspond to Nordea’s values.
Controversial analysis
The analysis started as follows:
“Being short on Fauci and his European counterparts has been a 100 percent sure strategy through the pandemic, and it still is, we believe. The “lockdownists” are back in the driver’s seat[ …]».
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Furthermore, almost 2,000 words followed which the authors questioned coronary vaccine efficacy, official infection rates and included a reference to Nurembergthe process after World War II.
Among other things, the authors are said to have referred to a partial suspension in Ireland, and that Austria “has not only chosen to put its inhabitants in prison (so far only in their own homes), but has shut down the whole country and introduced vaccine orders”, as they wrote in the analysis.
In November, Austria became the first country in Europe to introduce a vaccine requirement, after the country entered its fourth shutdown since the pandemic began. Infection rates have picked up again, and people were out in the streets to protest the closure, wrote BBC earlier in the week.
“The vaccine is obviously so good that you have to force people to take it. This is unlikely to help the lack of trust in the system “, wrote Steno Larsen and Enlund.
After withdrawing the analysis, Nordea stated in November:
– The views expressed in this analysis are not in line with Nordea’s official position. The bank follows the authorities’ advice and recommendations on covid-19, also with regard to vaccines. Unfortunately, this report does not communicate this, and we have now launched an internal review of the content.
Sharpen the routines
The bank states in a press release that it will now review the procedures for publishing such analyzes.
– To ensure high quality of Nordea Markets’ publications, we strengthen our editorial procedure, research publishing process and compliance guidelines. We will continue to provide our customers with analyzes and research with high integrity and relevance, says Martin Persson, head of large companies and institutions at Nordea.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms look here.
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