Ministers seek measures to prevent new crisis

3rd November 2008, Comments 0 comments

Dutch ministers are pushing for measures which include pre-approving salaries in the financial sector.

3 November 2008

THE HAGUE - Prime Minister Jan Peter Balkenende and Finance Minister Wouter Bos are arguing for a series of measures intended to prevent a new financial crisis.

In an article in the German-language edition of the Financial Times, they propose making it compulsory for companies in the financial sector to have their salaries approved by supervisory bodies such as the Dutch central bank.

Companies would also have to appoint a risk manager to their boards. They would have the right of veto to prevent companies taking exorbitant risks.

The two ministers write that a clause could be introduced allowing wrongfully awarded bonuses to be reclaimed. In their article, they argue that the International Monetary Fund should be strengthened.

[Radio Netherlands / Expatica]

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