Danish state bankruptcy of 1813
Encyclopedia
A state bankruptcy occurred in Denmark
on 5 January 1813. The country had been waging the Gunboat War
since 1807, something which eventually caused a financial crisis. The Danish state
, heavily indebted, went bankrupt
.
Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
on 5 January 1813. The country had been waging the Gunboat War
Gunboat War
The Gunboat War was the naval conflict between Denmark–Norway and the British Navy during the Napoleonic Wars. The war's name is derived from the Danish tactic of employing small gunboats against the conventional Royal Navy...
since 1807, something which eventually caused a financial crisis. The Danish state
Sovereign state
A sovereign state, or simply, state, is a state with a defined territory on which it exercises internal and external sovereignty, a permanent population, a government, and the capacity to enter into relations with other sovereign states. It is also normally understood to be a state which is neither...
, heavily indebted, went bankrupt
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
.