Monday, April 16, 2012

Parliamentary Commission: Former Labor Finance Minister Broke Law and Made Many Grave Mistakes

A parliamentary inquiry commission has concluded that former Labor Party Finance Minister Wouter Bos has made huge mistakes during the nationalization of the ABN Amro/Fortis Bank and by the support for the financial and insurance group ING in 2008 and 2009. The commission headed by parliamentarian Jan de Wit (Socialist Party) said that Bos is the main responsible person in 6 cases which in total involved many billions of Euros. He has furthermore never informed Parliament about the steps he was to take. This is a breach of the law as the huge outlays concerned sums which were not included in the budget. Even in those cases where the Parliament was informed, it was done after the actions had already been taken and information was withheld. The commission concludes that the control function of the Parliament has been hindered by the actions of the minister.

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