Thursday 07 July 2022

Dutch banks, finance ministry are prepared for Greek bankruptcy

Rabobank and the finance ministry are preparing for Greece to go bankrupt, according to media reports on Tuesday evening.


Finance minister Jan Kees de Jager told broadcaster RTL Z that the ministry is preparing for ‘all likely and unlikely scenarios’.
After being pressed, De Jager admitted that talks on a potential bankruptcy are being held in ‘deepest secrecy’ with the central bank and other European countries. ‘A sensible cabinet is prepared for all eventualities,’ he said.
Sources in The Hague told the Financieele Dagblad that the Netherland, Finland and Germany have no confidence that Greece will manage to carry out all its spending cuts.
‘The question is no longer if but when the Greek debt will be restructured,’ the paper said.
Banks
Earlier, the Financieele Dagblad reported that Rabobank is also readying for a possible Greek bankruptcy.
Rabobank chairman Bert Bruggink told the paper that Greece would go bankrupt. ‘The only question is when,’ the paper quoted him as saying. A spokesman said later the bank had ‘all the scenarios’ for a possible default ready.
ABN Amro said it had no specific plans but was looking at the risks.

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