Dutch minister of finance: tens of billions lost if we don't help Greece

[Das war einmal]

The Dutch minister of finance has warned the Dutch parliament that if the EU does not provide Greece with funds that it's gonna cost the Dutch people 'tens of billions'. A bankruptcy would be 'a financial noose'. He has not specified his words. Probably he was revering to a combination of an unstable euro and extreme instability on the stock market.

The extreme-right Freedom Party won't probably support new funds for Greece, so the government has to look for allies at the left side, most likely the social-democrats and the greens.

This happens on the same day that the credit rating of Greece has been lowered to CCC+ which is apparently extreme.

[Reznov]

Could we get a link?

And, losing money? Greece is the next target then!

[Das war einmal]

http://www.dutchnews.nl/news/archives/2011/06/finance_minister_warns_mps_on.php


Finance minister warns MPs on refusing more aid for Greece

Monday 13 June 2011

The Netherlands will lose ‘many tens of billions of euros’ if EU countries stop supporting Greece and the country degenerates into financial chaos, the finance minister said in a briefing for MPs on Monday.

De Jager’s briefing comes ahead of what is set to be a hotly contested parliamentary debate on further help for Greece on Tuesday.

If the Netherlands refuses to help Greece further, EU and IMF loans will automatically stop, because they require unanimity, De Jager said. And there is a real risk the crisis will spill over to Ireland, Portugal and even Spain, the minister said.

Risks

‘Like a number of my colleagues, I do not look forward extending further support to Greece. But the option of doing nothing, with all the risks that carries, is even less attractive,’ the minister wrote.

De Jager said he would prefer it if Greece is given extra help by the EU and IMF and that European banks, insurers and pension funds extend the duration of their loans to Greece.

The ruling coalition’s alliance partner PVV opposes any more help to Greece and the Labour party is also opposed to giving ‘a blank cheque’.

© DutchNews.nl

The PVV is the Freedom Party.