Opposition parties call for unified euro crisis solution

Dutch MPs are increasingly worried about the financial situation in Italy, following the dumping of Italian banking shares on Friday, the Financieele Dagblad reports on Tuesday.


Opposition party financial spokesmen are calling for a concerted effort to solve the crisis quickly, the paper says. There are growing fears the debt crisis may now spread to Italy and Spain – which are major EU economies.
Labour’s finance spokesman Ronald Plasterk told the paper the inclusion of Italy in the euro crisis ‘crossed a new line’.
Major solution
‘Until now, I thought it would be possible for the rest of the EU to keep the three small EU countries [Greece, Ireland and Portugal] which account for just 6% of European GDP out of trouble,’ Plasterk said. ‘I am starting to believe we need a major solution for the debt crisis, rather than a step by step approach.’
Wouter Koolmees of the Liberal democrats D66 agrees with Plasterk that a speedy solution is needed. ‘The uncertainty surrounding tackling the Greek crisis is dragging on for too long,’ he said. ‘It sometimes seems as if everyone is performing for their home audience rather than coming up with a solution which is in everyone’s interests.’
Eurozone ministers discussed their continuing efforts to solve the Greek crisis in Brussels on Monday. According to Trouw, the atmosphere at the meeting was ‘not good’.
Private sector
The Netherlands is continuing to press for major private investment in the bail-out – forced if necessary – the paper says. But France and the European central bank are opposed to any element of compulsion.
‘The debt crisis is very serious and we need to work together to find a solution,’ the paper quoted finance minister Jan Kees de Jager as saying after the meeting. ‘We are not only concerned about Italy, but about the entire eurozone.’
According to the Wall Street Journal, De Jager again reiterated that private sector involvement is a prerequisite for Dutch support for a second bail-out for Greece.
Ministers will meet again later this month in an effort to find a solution.

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