The real action now is in branded generics, which command a premium in many emerging markets due in part to the fear that unknown products might be fake or of dubious quality.
In that case, the double dip fear could continue hanging over the market, preventing the reduction in risk premium assumed in our non-recession scenario.
Unlike the British, the Danes do not fear losing influence (what influence?) if they stay out, though they dislike paying an interest-rate premium for the privilege.