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Many pension funds have reached the threshold of what they can afford to lose and are calling for the closure of the global stock exchanges for a couple of weeks, according to a Topdanmark spokesman in an interview with business.dk.
"There is a negative spiral in which waves of falling prices continue to wash in. As a result many pension funds are forced to sell their investments. That means a destruction of the intrinsic value of pensions for a whole generation of pensioners. We need a global, coordinated time out of 14 days to stabilise the markets," says Topdanmark spokesman Steffen Heegaard.
