Thursday, January 21, 2010

Former Senior EU Official: Dutch Central Bank President Should Resign

Jules Muis, former director-general of the European Commission, has said that President Nout Wellink of De Nederlandsche Bank (DNB), the Dutch central bank, should have resigned in order to renew confidence in the bank. Muis appeared before the parliamentary committee which is investigating the Dutch financial system. He said that the DNB should have seen the risk of an economic system crisis years ago and recognized its importance for the Dutch economy which has such a large financial sector. Muis added that he had listened to the arguments of the DNB in its defense and compared them to the elementary school kid who comes late and claims that the bridge over the canal was open.

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