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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