Central bank chief hits back at critics

The president of the Dutch central bank, Nout Wellink, has warned parliament that criticism of the way he handled the collapse of internet bank Icesave is unjustified and could damage the authority of the central bank.

Wellink hit back at his critics in a letter to finance minister Wouter Bos in July and on Tuesday Bos forwarded it to parliament, according to various media reports.
Bos supports the request of MPs for a ‘public discussion’ with Wellink to question him about his role in the Icesave affair, reports Wednesday’s Financieele Dagblad.
A number of politicians and others have questioned whether Wellink did enough to protect Dutch savers following the collapse of Icesave.
An initial report into the central bank’s handling of the Icesave affair concluded this had been adequate but was critical on a number of points, according to the papers on Wednesday.
But Wellink accuses his critics of ignoring the limitations there are on the authority of the central bank.
The parliamentary finance committee is to question Wellink on the role of the central bank in the Icesave affair on September 11, reports the Financieele Dagblad on Wednesay afternoon.
Meanwhile opposition to Wellink’s appointment for a new term as head of the central bank has been growing. Wellink (65) has been president of the central bank for 12 years.

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