The Labour party wants to keep all or part of the ABN Amro banking group in state hands, party leader Diederik Samsom says in the party’s plans for the financial sector.

ABN Amro was nationalised in 2008 during the financial crisis following its takeover by a consortium of banks. The aim at the time was to sell it on as soon as possible.
‘The Labour party wil not float ABN Amro,’ the document says. Instead, at least half the bank will remain in state hands. Investors who want financial security such as pension funds, can buy the other half, the document states.
Honour
Samsom, who presented his plans on Wednesday night, also called for a new, more honourable, approach by the banks. Many current banking activities are little more than expensive hot air, he is quoted as saying by Nos television.
Labour also wants to see the introduction of European banking supervision, higher capital buffers, a crack-down on bonuses and tough controls on new financial products.
‘We must never again be in a situation where we have to bail out banks to make sure the savings of ordinary people are safe,’ he said.
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