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  #81  
Old 03-16-2011, 10:32 AM
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Translation of article in Ekstra Bladet, Wednesday 16th March 2011.
Mary og Frede i indkøbs-rus – Mary and Frede in shopping frenzy.
Written by: Jan Körner. (Yeees, that kind of says it all…).
Ekstra Bladet - Mary og Frede i indkbs-rus

The year after Crown Prince Frederik and Crown Princess Mary sacked five employees, due to excess consumption; the pair has once again gone amok in a major frenzy of shopping. (1)
Compared to 2009 their consumption went up with more than 100 % during 2010, according to documents which are publicly available in which Ekstra Bladet has had access to, about the refunding of vat, (2) by various members of the DRF.
In 2009 the CP coupled spend a little more than five million DKK, while the spending in 2010 exploded and ended up at a little more that 11.3 million DKK.

In reality Frede and Mary got away with paying 9.1 million DKK for their purchased goods, because they got the vat of a little more than 2.2 million DKK back in refund. (3)

When the couple sacked five employees in the beginning of 2009 it was after all with a declaration of intending to cut down on the excess spending. (4)

“The terminations have been made for economical reasons in order to adapt the resources for present and future needs”. Is what the DRF communication chief, Lene Balleby said back then. (5)

2009 only generated a surplus for 22.178 DKK, (6) that’s in stark contrast to the 500.000 DKK they used additionally every month of 2010.

According the DRF chief of economy, Søren Kruse, the explanation for the extravagant spending is that the couple has moved in at their newly renovated palais.
“It’s obvious that things needs to be bought, when you move into a new palais. It was after all a naked palais. So the refunding of vat is dependant of the consuming of goods”, says the (economic) chief of court to Ekstra Bladet.

The amount of 11.3 million DKK is only related to goods on which there is vat, and not salaries for the employees.

That means that the CP-couple’s economy must be close to bursting after the hefty shopping sprees. (7)
In 2009 they had expenses for salary for 10.4 million DKK, expenses running costs amounted to a little less than 2.5 million DKK, while expenses for property amounted to 869.576 DKK.
The comparative expenses constituted in 2010 22.8 million DKK, including expenses for goods at 9.1 million DKK.
The apanage however “only” constituted 18.5 million DKK, which amount to a deficit for 4.3 million DKK.
According to the latest account from Amalienborg Frede do not possess such means and he has probably had to borrow from his mother.

In 2009 Frede and Mary had short-term mortgages for a little more than 3.5 million DKK.

(1) Meaning general purchasing, not just shopping.

(2) Vat in DK constitutes 25%.

(3) The DRF do not pay vat. In reality they pay full price initially, save their receipts and get a refund from the state.

(4) The declaration of intent, is pretty freely interpreted by Ekstra Bladet, so is the expression: “Excess spending”.

(5) Like so many newly founded companies, (which is basically what the CP-court is from an economical viewpoint) and dare I say families as well, M&F probably found out that they had expanded too rapidly and had to cut costs.

(6) Which is a wise move by a company depending on allocated funds. – You don’t have too big a surplus, or you’ll have problems getting a raise in your funding.
You’ll see something similar in other public sectors, which find out they have a surplus towards the end of the year.

(7) Speculation. We don’t know the private economy of M&F. This is just the turnover of their “company”. – And all companies invest from time to time.

Okay, this in one of Ekstra Bladet’s favorite themes and you need to read the text and the figures very carefully, because figures can so easily be manipulated.

Apanage/income in 2010: 18.5 million DKK.

Expenses for salaries: 10.4 million DKK.
Running costs. I.e. uniforms, food for the staff, transport and so on: 2.5 million DKK.
Expenses in connection with their property. Kancellihuset and towards the end of 2010, also their palais at Amalienborg. I.e. water, heating, electricity, garbage disposal and so on: 869.000 DKK.

Then we have purchasing of good, of all kinds, which are vat-refundable: 9.1 million DKK minus vat.
That covers their personal expenses, presents, private and official, furniture for themselves in their new home, but also furnishing for their staff, wardrobes, towels, desks, chairs, cooking utensils, eating accommodation and so on. A myriad of things!
Not to mention furnishing the “official” parts of their new home, as well as their private apartment.
Then we have “work-clothes”, in the shape of suits and dresses.

Whether they overspend personally is not for me to decide, I can only say that they had plenty of additional expenses last year as well as this year.
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  #82  
Old 03-17-2011, 03:55 PM
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This reminds me of a friend of a friend, who bought a ticket for a hundred dollars for charity, the prize being a beautiful new house. This acquaintance actually won the thing and after the initial excitement wound up selling it quickly. He couldn't afford to live in it with the taxes, heating, upkeep, etc.

I don't pity M and F, (in the end they're wealthy people and the amount of money they receive is only going to grow), but they've been in a tough situation in that they were expected to establish a household befitting the crown princely couple immediately after they got married, in addition to setting up their old home. Then only a couple of years later they were handed a lovely, but empty, palace, with all the accompanying increases in costs. None of this is cheap and I don't see many ways that they can cut costs.
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  #83  
Old 03-22-2011, 06:41 AM
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Originally Posted by camelot23ca View Post
I don't pity M and F, (in the end they're wealthy people and the amount of money they receive is only going to grow), but they've been in a tough situation in that they were expected to establish a household befitting the crown princely couple immediately after they got married, in addition to setting up their old home. Then only a couple of years later they were handed a lovely, but empty, palace, with all the accompanying increases in costs. None of this is cheap and I don't see many ways that they can cut costs.
The question is how wealthy they actually are! I mean they ( well, Frederik) are not exactly paupers and they've probably saved a little for a rainy day. However the Danish RF is not known for their private assests, and I doubt that there is much left of the annual civil list money for the piggy bank!
Queen Ingrid allegedly inherited of the Swedish RF fortune and allegedly invested wisely, but these are just rumours, and even if they weren't, she had to help out her youngest daugther setting up home in exile- allegedly! - before anything could be bequeathed to her elder daugthers.

TRH are sometimes critizised for hanging out with wealthy friends willing to pick up the bill. If this is the case, they're not the only royals to do so, and I for one don't mind as long as nothing improper is going on. But as we have seen in another monarchy lately: the royals really need to watch their step and to scrutinize their friends!

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  #84  
Old 04-28-2011, 01:18 PM
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Here is the official report about their finances in 2010

http://download.tdconline.dk/pub/kon...huset_2010.pdf
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  #85  
Old 06-19-2011, 05:00 AM
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The DRF 'not very wealthy?'

I have recently read an article about HM the (late) Queen Alexandra of England, who was born HRH Princess Alexandra of Denmark in 1844 (She passed away 1925).
The article did state that DRF was not wealthy in that era; she and her sister, HRH Princess Dagmar of Denmark, had to sew and assemble the clothes they wore, while still princesses of Denmark.
I have read also that HM the (late) King Frederik IX knew 'how to handle a vacuum cleaner.' The same article also suggested that the DRF was not wealthy at that time and nor are they considered wealthy to this day. I hope someone can elaborate to help explain the term 'not very wealthy' and how accurate is that term to refer to the DRF? What bases are used to come to that conclusion? Is the DRF considered not wealthy only when compared to other royal houses?
The fact that HM Queen Alexandra had inherited 'otosclerosis' from her mother was also pointed out. Has any other royal who is descended from Alexandra or from
her mother ever been diagnosed with the same condition? Or has this inherited condition 'died out' in Europe's royal houses, such as seems the case with the genetic condition haemophilia in HM the (late) Queen Victoria's descendants? Anybody know the 'inside scoop?' Or, not?
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  #86  
Old 06-19-2011, 06:06 AM
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I have recently read an article about HM the (late) Queen Alexandra of England, who was born HRH Princess Alexandra of Denmark in 1844 (She passed away 1925).
The article did state that DRF was not wealthy in that era; she and her sister, HRH Princess Dagmar of Denmark, had to sew and assemble the clothes they wore, while still princesses of Denmark.
I have read also that HM the (late) King Frederik IX knew 'how to handle a vacuum cleaner.' The same article also suggested that the DRF was not wealthy at that time and nor are they considered wealthy to this day. I hope someone can elaborate to help explain the term 'not very wealthy' and how accurate is that term to refer to the DRF? What bases are used to come to that conclusion? Is the DRF considered not wealthy only when compared to other royal houses?
The fact that HM Queen Alexandra had inherited 'otosclerosis' from her mother was also pointed out. Has any other royal who is descended from Alexandra or from
her mother ever been diagnosed with the same condition? Or has this inherited condition 'died out' in Europe's royal houses, such as seems the case with the genetic condition haemophilia in HM the (late) Queen Victoria's descendants? Anybody know the 'inside scoop?' Or, not?
I'd say not wealthy compared to other royal families.
Compared to other Danes a qualified estimate would make them millionaires but not particularly rich.
If they weren't royals I believe QMII and PH could live from the interests of their fortune, but it would be a fairly modest though comfortable life.
M&F would have to work to maintain a living standard comparable to how they live today. Except for the palaces and luxury cars of course. Something akin to the living standard of Joachim and our Marie. I.e. modest millionaires.

It's true Queen Alexandra lived a very modest life when she was a child. They were probably not wanting but their living standard wouldn't have differed much from a middle class family of the period.
That they made their own clothing can be misleading. They probably did to save money, but such skills were actually considered essential and certainly beneficial for women. Not to mention that it kept them occupied. Middleclass women of that period didn't go out and got a job, unless they were in need or were a bit rebellious.

As for Frederik IX wielding a vacuum cleaner. Well, don't put too much into that. It's more likely that he enjoyed doing some practical work from time to time. Especially on holiday where there was little in any cleaning staff around.
Apart from that the DRF also had to cut down on costs and luxury items during WWII and from that period they would have been used to a more modest living.
And it wouldn't have been something completely novel for Frederik IX. He would have been used to (and perhaps even enjoyed) doing a good deal of work himself in the navy as a young cadet.

As for ostosclerosis: I haven't heard anything about that in the DRF.
However it seems to be very obvious that Queen Ingrid suffered from osteoporosis. And that condition can be heriditary, especially from mother to daughter. In DK that used to be known as: Engelsk syge = English illness.
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Old 06-19-2011, 09:29 AM
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I believe Engelsk syge refers to what is called Rickets, a debilitating condition resulting from vitamin D deficiency. Queen Ingrid was reported to have osteoporosis which is a different condition.
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  #88  
Old 06-19-2011, 12:54 PM
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I believe Engelsk syge refers to what is called Rickets, a debilitating condition resulting from vitamin D deficiency. Queen Ingrid was reported to have osteoporosis which is a different condition.
Thank you, Grevinnan
I learned something new today.
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Old 06-19-2011, 05:18 PM
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Quote:
Originally Posted by Muhler

I'd say not wealthy compared to other royal families.
Compared to other Danes a qualified estimate would make them millionaires but not particularly rich.
If they weren't royals I believe QMII and PH could live from the interests of their fortune, but it would be a fairly modest though comfortable life.
M&F would have to work to maintain a living standard comparable to how they live today. Except for the palaces and luxury cars of course. Something akin to the living standard of Joachim and our Marie. I.e. modest millionaires.

It's true Queen Alexandra lived a very modest life when she was a child. They were probably not wanting but their living standard wouldn't have differed much from a middle class family of the period.
That they made their own clothing can be misleading. They probably did to save money, but such skills were actually considered essential and certainly beneficial for women. Not to mention that it kept them occupied. Middleclass women of that period didn't go out and got a job, unless they were in need or were a bit rebellious.

As for Frederik IX wielding a vacuum cleaner. Well, don't put too much into that. It's more likely that he enjoyed doing some practical work from time to time. Especially on holiday where there was little in any cleaning staff around.
Apart from that the DRF also had to cut down on costs and luxury items during WWII and from that period they would have been used to a more modest living.
And it wouldn't have been something completely novel for Frederik IX. He would have been used to (and perhaps even enjoyed) doing a good deal of work himself in the navy as a young cadet.

As for ostosclerosis: I haven't heard anything about that in the DRF.
However it seems to be very obvious that Queen Ingrid suffered from osteoporosis. And that condition can be heriditary, especially from mother to daughter. In DK that used to be known as: Engelsk syge = English illness.


Queen Alexandra lost her sense of hearing as she aged. She had 'otosclerosis,' which inherited from her mother.
'Otosclerosis' is prefix => 'oto' = ear(s), eardrum(s);
root word => 'scler/o = hardening (of);
suffix => 'osis, oses' = condition(s) of (having)
I am used of dealing with medical terms on a daily basis. I do understand that medical terms that seem similar are not necessarily similar. 'Otosclerosis' is the hardening of the eardrums as one ages. I read that the once PssOW, HMQA, was profoundly deaf even before her m-i-l, HMQV, passed away in 1901.
Any known descendants of HMQA or her mother ever diagnosed with the condition? I would think it to be peculiar, not impossible, that no descendants have ever been diagnosed with otosclerosis since Alexandra. Anyone have info regarding this?
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Old 06-19-2011, 08:54 PM
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Further posts regarding Queen Alexandra's health should be posted in the King Edward VII (1841-1910) and Queen Alexandra (1844-1925) thread - this thread is for the finances of the Danish Royal Family.

Thank you.
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  #91  
Old 08-24-2011, 01:48 PM
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A couple of articles: En million kroner mere til de kongelige - De Kongelige

The government has granted the DRF a pay rise.
Apart from that the the DRF apanage is regulated twice a year so that it follows the comparative rise in salary among state employees.
QMII will be granted 700.000 DKK more next year. Of these 100.000 will go to Prince Henrik.
As QMII will celebrate her 40th jubilee in 2012, the expences will of course be higher than usual.

Frederik will get 200.000 DKK more next year, of which a certain percentage will go to Mary. (Roughly 10 %).

Joachim will recieve 100.000 DKK more. He can probably use them....

Everybody else will not get a payrise..

However a few weeks ago, a survey was published in which people had been asked whether they think the DRF is too expensive.
Hver tredje dansker: Kongehuset er for dyrt - Royale - BT.dk
The combined costs for the DRF, everything included, except PET protection, has officially been calculated to 342.2 million DKK.
34 % belive the DRF is too expensive.
47 % find it appropriate.
2 % believe it's not enough
and the rest must be undecided.

In fact I'm surprised it's only 34 % who think it's too much.
Because this is the kind of surveys where you with guarantee can be certain to get a high percentage of negative replies.
It's like asking: Do you think the politicians spend too much money?
No matter what, you can be sure a lot of people will tick the "yes-box".
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Old 08-24-2011, 02:42 PM
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The price-perfomance ratio leaves much to be desired.
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  #93  
Old 04-30-2012, 02:02 PM
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Sådan bruger kongehuset dine penge - Royale | www.bt.dk

A very interesting and very detailed break down of the DRF economy and running costs.
It deserves a full translation, unfortunately I simply haven't got time for at least a couple of days to do that, so if anyone should be up for the challenge....
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Old 06-25-2012, 04:24 PM
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This is a full translation of an article in BT 30. April 2012. See above

(As with all such articles it’s important to look at the DRF as a firm).


Twin birth, the IOC membership and visits to Bahrain, Russia, Ukraine, Australia, Vietnam, Rwanda, USA, Japan, Greenland and Mozambique – and on incoming state visit from South Korea – has been expensive for the DRF in 2011.
That’s what the annual account from 2011, which has just been published by the court, shows.


All in all the DRF have had incomes of more that 77.342.986 DKK (1) and that’s an improvement of a couple of thousands more than in 2010. The expenses on the other hand have over that one year risen with four million DKK to 77.062.606 DKK.
With financial incomes added, the surplus from 2011 only approach one million DKK – 975.455 DKK – and that’s over a million and a half less than the last account. (2)
The surplus is transferred to the equity, which is now a money-tank of almost 20 million DKK – to be exact 19.997.623 DKK.


The money has among other things been spend on IT, machinery, maintenance of buildings and ”bigger events” as it is called in the account. The DRF have among other things got a new homepage, the Yellow Mansion (3) has been modernized and the kitchen at Gråsten is due for a thorough renovation.
And then the court has bought an electric car and exchanged some of the cars with energy saving vehicles. Apart from that there has been a need for hiring an extern course/education-manager for a number of courses for court officials, where acknowledgement, communication and team thinking was emphasized.


Here is the apanage for the individual DRF members:


Queen Margrethe:
Received 75.291.549 DKK in apanage (4) and as such rose with 1.6 million DKK compared to last year. She received along with Prince Henrik and Princess Benedikte 6.4 million in vat-refund, (5) because the royals are exempt from paying vat. The ”household” of the Queen had altogether a surplus of 975.499 DKK.


Princess Benedikte:
Receives according to law 1.5 % of the apanage to the Queen, which amounts to 1.129.375 DKK.


The Prince Consort:
Does not figure individually in the accounts but he receives money from his wife, which determined by the law amounts to ten percent of the apanage to the Queen. 7.529.155 DKK went to him.


Crown Prince Frederik:
Received 18.523.746 DKK in apanage and such he rose 400.000 DKK compared to 2010. The expenses from him – and his wife – amounts to 18.476.737 DKK. The money have among other things been used to purchasing furniture and furnishing the mansion. He received 2.4 million in vat-refund. The ”household” of the Crown Prince altogether creates a surplus of 66.306 DKK.


Crown Princess Mary:
Get a salary from her husband of 10 % of the apanage. She received 1.843.275 DKK.


Prince Joachim:
Received an apanage of 3.275.690 DKK. Apart from that he received 396.429 DKK as vat-refund. There is however a requirement regarding the ”salary” to his wife, Princess Marie. (6) This is for the couple to agree on among themselves. Joachim did however get a raise in the apanage of 800.000 DKK when he married Marie in 2008.


In the accounts is also the so-called frame-amount, which is money for clothing, furnishing, counseling, secretaries and other items that are ”non official”. Here the CP couple spend 3.7 million DKK, while the Regent Couple spend 9.8 million DKK. But then they had look after the running and maintenance of Marselisborg Manor, the hunting lodge in Trend and Chateau de Cayx and Gråsten Manor.


(1) Roughly 13 million $ or 10 million €.


(2) In a family run business, which is basically what the DRF is, any surplus is good. Remember that expenses also include salary for the managers i.e. the members of the DRF.


(3) The DRF administration. Located next to Amalienborg.


(4) Actually ”state-benefit”, but let’s keep it simple and call it apanage.


(5) Vat in DK constitutes 25 %. That amount is refundable for the DRF, as they don’t pay vat.


(6) This must be a typo. I believe what is meant is that there is NO requirement for a specific salary for our Marie.
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Old 06-26-2012, 04:22 AM
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Follow up on the article above

The key figures as I see it are the vat-refunds and the frame account.

Most of the expences go to salaries for the staff, who are state-employees. I.e. akin to civil servants, just paid by the court.

Most other expences are vat-refundable. I.e. heating, water, furnitures, petrol, food for themselves, guests and staff and so on, and so on....
That means we take the figure that are vat-refundable and multiply with four.
In that figure is also a considerable part of their private consumption.

However a number of necessities like food and phonecalls, are no doubt covered by "the firm". - Show me a family owned business that doesn't cover such expences in a similar manner and I'll show you a business in serious need of a financial advisor.
The same thing about furnishing the official parts of the mansions. They do after all live in the whole building and not just in their private apartments.

So from that we can see that QMII, PH and Benedikte purchased for 25.6 million DKK in goods and services. - For the company.

M&F purchased goods and services for 9.6 million DKK.

While Joachim and our Marie purchased for 1.6 million DKK.

Then there is the frame account, which is as I interpret it the private expenses paid from their own "salary". With that they pay for private travels, clothing, furnitures in the private apartments and privately employed staff, like nannies and private secretaries and so on.

From that we learn that the Regent Couple had "private" expenses of 9.8 miilion DKK, which includes maintaining the privately owned homes of Marselisborg, Cayx and Trend.
So their "salary" must be a higher than that. How much is anyone's guess.

M&F had "private" expenses for 3.7 million DKK. They are establishing a home, which means that they buy many things for the first time, just like other young families. Not to mention that they have an active social life with many friends. (Not all birthday presents can be charged to the business account). To that we should also add two nannies and at least one private secretary, Caroline Heering, plus salary (we may assume) to Søren Heedegaard when he accompany Mary on travels.
And my guess is that they at present don't have much of a surplus. So a cautious guess is that M&F's salary amounts to 4 million DKK in total. Roughly 538.000 € or 673.000 $. - Which is a fairly modest salary considering their status. Many board members and bank managers here in DK have a higer salary without feeling the least bit ashamed.

ADDED: To the DRF salary should be added the vat-refunds and other perks and discounts and that they don't pay income tax. So relatively speaking the salary I have estimated here should be increased by 50-75 %.
ADDED AGAIN: I start to confuse myself now! It's that roundabout way of thinking. Okay, if the DRF were normal people, they would earn roughly 50-75 % more.

Does this make sense? Or do you think I need a course in how to interpret accounts?
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Old 06-26-2012, 07:19 AM
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Makes sense to me, Muhler.

Mary and Frederik live quite modestly in comparison to other people in the very same position. Certainly worth their weight in DKK.
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Old 06-26-2012, 09:13 AM
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I don't think they live quite modest...God! They live in a Castle, they travel, thet ahve very expensive clothes...and they live quite modest???No for sure. To me Princess Mary should stop buying so mucht expensive and exquisite clothes...this is not the most important thing...the most important thing is what she can do for the Danish people, and it doesn't matter how many events she took part, what it does matter is her work behind the scene...and to me Mary is so mucht talk for her expensive clothes, she wears a new dress almouts every event, yes she does recycle, but no so mucht has she should do, she has plenty of dresses that she has wore just one time...that is a shame!
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Old 06-26-2012, 09:25 AM
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I agree Muhler, many executives and professionals earn much more than 538.000 € and are fortunate enough not to live in the public eye and have everything they buy and wear examined by the public. I know my dentist, dermatologist, lawyer and all of the VPs of the company I work for all earn more that that amount. A nice income no doubt, but nothing remarkable for people living private lives and certainly nothing special for people who must live their live in the public eye and be judged on everything they do.
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Old 06-26-2012, 10:44 AM
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I don't think they live quite modest...God!
You're not looking at it in context. You're comparing them, with the way you or someone else (the general public) may live and it makes no sense to do that.

Compared to others in their position, they do live modestly, or rather, receive a modest apanage.

It needs to be viewed in context of their situation, and not what you or I would consider as being modest because to many people out there I'm sure you live most comfortably or would be considered as being financially wealthy, even though you may not think so yourself. It's all relative.
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Old 06-26-2012, 11:17 AM
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Originally Posted by biboquinhas View Post
...and to me Mary is so mucht talk for her expensive clothes, she wears a new dress almouts every event, yes she does recycle, but no so mucht has she should do, she has plenty of dresses that she has wore just one time...that is a shame!
A new dress for almost every event? I don't follow you. To me, Mary is one of the best royals at recycling. Perhaps you just think you see a new outfit every time she steps out in a new combination.
Even for the queen's 40th jubilee in January, she didn't even once appear in a new outfit (to a lot of people's regret).

And we're all free to discuss her work and work ethics for example instead of just her clothes.
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