Sunday, January 8, 2012

Former Dutch Bank Chief: Netherlands will Lose Part of its Loan to Greece

Nout Wellink, the former President of the Dutch Central Bank (DNB) considers it most probable that the Euro countries will have to write off part of their loans to Greece. While Finance Minister Jan Kees de Jager keeps saying that the Netherlands will receive all of its money back, Wellink says that this is not realistic. He said that the much publicized contribution of the banking system to the losses of Greece will ultimately amount to very little and that the hole will have to be filled by government money.

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