Four vocational training colleges latest to join derivatives scandal
Four large vocational college groups are the latest public institutions to have become embroiled in the derivatives scandal, the Telegraaf reports on Friday.
The Midden Nederland and West-Brabant ROC groups, the Zadkine group and the Albelda College in Rotterdam have all invested heavily in interest-rate derivatives in an effort to offset the cost of loans to build new buildings, the paper says.
Education minister Marja van Bijsterveldt told the NRC she has set up an investigation into the financial position of vocational (mbo) colleges, which will also include their investment policies.
The Financieele Dagblad reported on Monday Amsterdam's VU university and Leiden University may lose millions of euros because of their reliance on derivatives.
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