Wednesday 10 August 2022

Dutch Greek loan contribution €800m (update)

The Netherlands’ contribution to an eventual EU loan to Greece would be €800m to €1bn, the Volkskrant reports on Friday.


All 16 eurozone countries agreed on Thursday to set up a €23bn safety net for Greece which would only be used if market lending dried up. Greece has not yet requested any financial support.
EU countries are set to put up two-thirds of the bail-out, the IMF the rest. The Netherlands would be required to put up 5.9% of the total, Germany 19%, the paper said.
Parliament
Prime minister Jan Peter Balkenende said the agreement is ‘totally justifiable’ and that he would defend it vigorously in parliament.
A majority of Dutch MPs are opposed to giving emergency bilateral loans to Greece should the need arise. They say the IMF should be responsible.
MPs said on Friday they are largely satisfied with the agreement, because of the involvement of the IMF.
The agreement is a sign to the capital markets that Greece must solve its problems itself, but that it will not be abandoned if things fall apart, the prime minister said.
Balkenende also welcomed an EU commitment to take a tougher line on EU countries which break budget rules. This could include an end to EU subsidies.

For the BBC report on the agreement, click here

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