DutchNews.nl - Dutch banks have €102bn in loans to troubled EU countries

Dutch banks have €102bn in loans to troubled EU countries

Thursday 23 June 2011

Dutch banks have a total €102bn in outstanding loans in Ireland, Portugal, Spain and Italy, finance minister Jan Kees de Jager said in a briefing note to MPs.

Pension funds and insurance companies have a further ‘several tens of billions of euros’ in these countries, De Jager said.

De Jager has warned repeatedly that failure to support Greece could have a knock-on effect in other weaker EU countries where Dutch institutions have greater exposure.

Earlier this month, the Volkskrant said only ING and ABN Amro have significant exposure to Greece. ING has €1.4bn in Greek government bonds while ABN Amro has a similar amount invested in credit to state-owned companies such as the Greek railways.

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Readers' comments

That is 10,000 Euros for every adult person

Try and get a loan from the bank these days

By nd | June 23, 2011 8:30 AM

These billions are only half the story. Netherlands enjoys a very high current account surplus thanks to the deficits of these countries. If the troubled countries go bankrupt, or even worse, exit the euro, Netherlands stands to lose much more from decreased exports. The present value of those easily tops the 102 bn figure. So, sorry to say that, but the Netherlands DO have to come to grips with reality and help out these countries both for their own good and for the good of the EU.

By Polychronis | June 23, 2011 8:24 PM

I do not agree with poly.
Greece did nothing in 1 year except wait on the next bail-out thanks to stories from the press that we cannot let this happen
Let one small country fail and see the others -Portugal and Spain etc change their attitudes

The terms cannot be met so they will fail gain - then what??

By nd | June 25, 2011 8:59 AM

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