Dutch position ‘non-negotiable’ on eurozone bail-out fund: minister
Finance minister Jan Kees de Jager is insisting that any major new agreement to save the euro includes ‘harsh enforcement measures’ against countries that violate eurozone budget rules, the Financial Times reports.
The measures, including a commissioner with the power to veto national budgets of countries which break the rules are ‘non-negotiable’, De Jager says in an interview with the paper.
And while he is not opposed to calls for an increase in the size of the EFSF [emergency fund], that would come ‘at a price’, the FT quoted the minister as saying.
European leaders are trying to reach a deal on a new package of measures before the G20 meeting of leading industrial countries in November. The Netherlands is not a member of G20.
Commissioner
‘In all cases, if a country asks for support from the EFSF the Netherlands says there has to be a form of conditionality – even if it is only for support to recapitalise its banks,’ the paper quoted De Jager as saying.
The Netherlands first launched the idea of a special commissioner in August. As a last resort, the commissioner could expel countries which break the rules from the eurozone, although De Jager has admitted this would require a change in EU treaties.
The upper house of parliament is due to discuss the Dutch position on Tuesday evening.
Thank you for donating to DutchNews.nl.
We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.
Make a donation