Monday, August 23, 2010

Finance Minister Wants to Block Re-Appointment of Central Bank President

Finance Minister, Jan Kees de Jager (Christian Democrat), wants to change the law so that the President of the Central Bank (DNB) cannot serve more than two periods of seven years. This makes it impossible for the present bank president, Nout Wellink, to stay beyond 2011. There was much criticism of Wellink and the Central Bank when the DSB Bank went bankrupt. Prior to this Wellink was criticized for his attitude in the sale of the ABN Amro Bank and the problems of the Dutch activities in the Iceland Internet Bank Icesave. Parliament reacted positively to de Jager’s proposed measure.

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