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Dutch reject Van Rompuy's eurozone report as 'insufficient'

Tuesday 16 October 2012

The report by EU president Herman van Rompuy on further economic and political integration in Europe offers 'insufficient basis' for the responsible introduction of a European banking system, according to the Dutch government.

European affairs minister Ben Knapen has sent a briefing to MPs outlining the Dutch position on the report, unveiled by Van Rompuy last Friday.

'The Netherlands sees banking union as a long-term aim... which can only be introduced under strict conditions,' Knapen said. These conditions are not included in the report.

Van Rompuy's report will be discussed at a summit in Brussels this week but no decisions will be taken before the December summit, the NRC said.

Do you support the idea of a European banking system? Have your say using the comment box below.

© DutchNews.nl


Readers' Comments

EU will need a huge debt restructuring plan and that will help EU to stay as one. It is a union afterall. Every single big spending from all EU countries should be studied based on their returns before actually implemented. It is just like how you treat the slower members in your family. We do not disown them. We allow them to grow up with constant nagging, help and checking etc. Outsource unprofitable works and harness IT as much as possible. Without any QE so far, Euro should be worth more than the other major currency.

By auto | 16 October 2012 9:21 AM

Yes, I support the idea of a European banking system

By bruce | 16 October 2012 9:38 AM

After what the banks did to us in 2009, are you kidding?!!

Don't forget, the larger the bank, the more chance of corruption.. :P

By The visitor | 16 October 2012 10:06 AM

of course... its time for make or break

By dork | 16 October 2012 10:32 AM

I want the Euro countries to speak with one voice so we get out of the mess we are in. The details going forward are difficult but 17 different focal voices is a recipe for economic disaster

By Peter Alt | 16 October 2012 10:43 AM

Yes, having fiscal union in support of monetary union is an absolute necessity. A good deal of the euro-zone's problems are a result of their failure to create euro-wide financial institutions.

By Quince | 16 October 2012 11:14 AM

Dutch reject Van Rompuy's eurozone report as 'insufficient'. Respect; please stand up when you write about a peace prize winner. This “There can only be one” report questions the value of paper. The ESM as the last solution is restricted by national constitutional laws and cannot work when the going gets tough. Open question on who pay the ECB to be the big bank boss have not been addresses as the “borrow and lend” function.

By Terence Hale | 16 October 2012 11:22 AM

The EU has always to balance between the need for more integration on one hand and populistic nationalistic statements of national politicians on the other hand. Asking for more clarity about the conditions for a proposal is OK, but rejecting a proposal is offensive, not constructive and typical for the way that decreased the reputation of the Netherlands in the EU.

By René Caderius van Veen | 16 October 2012 11:57 PM

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