The Netherlands will miss out on €1bn through new Greek deal
Tuesday 27 November 2012
The new rescue package for Greece agreed between the eurozone and International Monetary Fund will cost the Netherlands around €70m a year in lost interest over a period of 14 years, finance minister Jeroen Dijsselbloem said after the meeting.
Eurozone finance ministers and the IMF took 12 hours to reach a deal to cut Greece’s debts by €40bn and open the way for releasing the next round of bail-out cash.
The exact sum the deal will cost the Netherlands will be worked out in the coming days, RTL news quoted the minister as saying. The agreement is within the terms of agreements with the Dutch parliament, the minister added.
No new money
‘We said no new money and no new guarantees and that is what has happened,’ Dijsselbloem said. ‘We are losing out on some income [from interest on the loan].’ The Netherlands has made a profit on its cash support for Athens over the past three years, the minister said.
More on the deal
Eurozone finance ministers agree deal on Greek bail-out
Eurozone agrees Greek bail-out deal
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© DutchNews.nl
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Hi,
By Terence Hale | 27 November 2012 10:02 AMA common sense and wise decision.
What many people do not know is how the rescue fund works: the countries that are contributing the most are
Germany 27%
France 20%
Italy 18%
Spain 11%
The netherlands is contributing for 5%
So what is commonly said by the press that germany and the netherlands are paying for saving other countries is very imprecise...
By Ax | 27 November 2012 10:51 AMPlease read the wiki page on European Stability Mechanism
...strange that for this you do not use your dictatorial "we cannot accept comments on this article"...I wonder which are your criteria when you do so...
By Marco | 27 November 2012 11:15 AMLong may the Ponzi continue. The additional 40billion will be very warmly received by the German and French banks, Hedge Funds and others with vested interests.
By Dr Ponzi | 27 November 2012 11:25 AM"The Netherlands has made a profit on its cash support for Athens over the past three years, the minister said."
I hope the people bear this in mind next time they look at Greece as a scape goat for the cuts that are starting to bite in the Netherlands...
By Cloggie | 27 November 2012 12:23 PM(The new rescue package for Greece agreed between the eurozone and International Monetary Fund will cost the Netherlands around €70m a year in lost interest over a period of 14 years)
No problem, lets see now, yup, we'll put a tax on toilet paper, that's guaranteed to raise some money, we've taxed everything else!
By Highlander | 27 November 2012 2:50 PMNetherlands was not giving money for free as a gift. It was a LOAN with Interest. Now the interest is reduced (still exists). I hope many dutch will get this that there is no "gift" - "free money" to Greece.
By Tax_Payer | 27 November 2012 3:01 PMSeems to me more like a dictatorship than a European Union. :P
"Pay up now or lose later" tactics?
If we keep bailing out Greece, eventually we could be needing a bailout ourselves!
Most currencies are losing value at the same time now, it's covered up well, but for how much longer?
By The visitor | 27 November 2012 10:42 PM@visitor
Inflation is running very high in the NL, 2.9%. It could be considered tactical, as inflation reduces debt, but, in turn impoverishes the people, and who cares about that? Austerity, and inflation, are now the biggest threats that we face.
By Highlander | 28 November 2012 4:05 PM