Left wing wants debate on ABN takeover

23rd August 2007, Comments 0 comments

23 August 2007, THE HAGUE – The Socialist party SP and green-left GroenLinks want to schedule a debate with Finance Minister Wouter Bos immediately upon Parliament's return from recess to discuss the possible takeover of ABN AMRO.

23 August 2007

THE HAGUE – The Socialist party SP and green-left GroenLinks want to schedule a debate with Finance Minister Wouter Bos immediately upon Parliament's return from recess to discuss the possible takeover of ABN AMRO.

The parties want to hear the minister's verdict on the plans of the consortium of Fortis, Royal Bank of Scotland and Santander to split up ABN AMRO. The SP thinks the risks this poses to the financial sector are too great.

SP MP Ewout Irrgang hopes Bos can be persuaded not to issue the consortium the necessary certificate of no objection for a takeover. The British bank Barclays, also in the running to take over ABN AMRO, was issued such a certificate recently.

Coalition party Labour PvdA also wants a debate, but preferably after Bos has made a decision on whether to issue the certificate of no objection. That decision is expected in September. After that point Parliament can assess whether regulators like the Nederlandsche Bank have a good view on the risks and whether they have adequate instruments to acquire such a view, says PvdA MP Paul Tang.

[Copyright Expatica News + ANP 2007]

Subject: Dutch news

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