Finance minister: no mistakes in tackling crisis

Thursday 04 February 2010

Finance minister Wouter Bos on Thursday told the government committee investigating the cause of the credit crisis that he had not made mistakes in his handling of the economy.

Bos emphasised that he had parliamentary support for his actions. Nevertheless, he said: 'in a political sense I am the one who can be called to account, whether I am to blame or not'.

And Bos told the panel he had no complaints about the role of the central bank as regulator. 'I have no doubts about decisions from a professional or expert point of view,' he said.

Bos said he had worked very closely with central bank president Nout Wellink and had 'full confidence in him'.

ABN Amro

But the Labour party leader had harsh words for former ABN Amro CEO Rijkman Groenink who said on Wednesday that the break up of the bank should never have been allowed.

Bos said there was a 'misplaced romanticism' about the perceived strength of the bank before it was taken over and split up in 2007. 'ABN Amro got itself into the position that it could no longer stand on its own two feet,' Bos was quoted by news agency ANP as saying.

Groenink himself had put ABN Amro up for sale, Bos said. 'So he should not look askance if buyers knock on the door.'

© DutchNews.nl

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