topics
tools
Expatica countries
Index Last Var.(%)
BEL 20 2270.63 -0.42
DAX 6788.8 0.59
IBEX 30 8902.1 0.60
CAC 40 3424.71 0.43
FTSE 100 5895.47 0.33
AEX 325.12 -0.06
DJIA 12890.46 0.05
Nasdaq 2927.23 0.39
FTSE MIB 16653.83 -0.09
TSX Composite 12497.94 -0.18
ASX 4336.6 -0.47
Hang seng 20958.98 -0.24
Straits Times 2987.79 0.22
ISEQ 20 503.71 0.33
You are here: Home News Dutch News Dutch councils fight to control own funds

Dutch News

archive
Enlarge font Decrease font Text size


16/10/2008Dutch councils fight to control own funds

Local governments say they do not want to be compelled to deposit their money with the BNG or Dutch Water Board Bank.

16 October 2008

THE NETHERLANDS -- In a response to Dutch Finance Minister Wouter Bos’ comments on local councils’ fund deposit, local governments have stepped up to say they do not want to be compelled to deposit their money with the state-owned Dutch Municipal Bank (BNG) or the Dutch Water Board Bank.

On Tuesday, Bos said on TV that local councils should be allowed only to put their reserves into the BNG or the Water Board Bank.

Bos made the comments after it emerged local and provincial governments have at least EUR 250 million invested in foreign banks which have run into financial difficulty or gone bankrupt.

The Association of Dutch Municipalities says Bos is panicking. It also says it does not agree that local governments have behaved irresponsibly.

The province of North Holland is furious with the minister. The province, which currently has EUR 78 million in troubled Icelandic banks, says the transactions were made after discussions with the Dutch Central Bank and government, and in accordance with existing guidelines.

Councils and provinces with money in Icelandic banks have joined forces in an attempt to reclaim their funds. Their lawyer is investigating possible legal steps.

[Radio Netherlands / Expatica]


0 reactions to this article

Be the first person to add a comment

General rating: Not rated yet

Rate article:    Add my rating


0 reactions to this article

Be the first person to add a comment
Discussion Forums

Legal Problems in the Netherlands

KM partner can be treated as EU memeber in paying tuition fee?

Student Forum The Netherlands

Uni fees - questions

Legal Problems in the Netherlands

Problem with Internet Provider

Legal Problems in the Netherlands

KM -> PR -> Citizenship

Legal Problems in the Netherlands

Stopping Naturalisation Process

participate in the forums

Inside Expatica
Setting up home in the Netherlands

Setting up home in the Netherlands

A guide to telephone, internet and television along with utility services water, electricity and gas in the Netherlands.

Dutch immigration and residency regulations

Dutch immigration and residency regulations

Lost in the Dutch immigration system? Look no further than this guide compiled for our Survival Guide 2012.

A brief introduction to the Netherlands

A brief introduction to the Netherlands

Expatica offers a whistle-stop tour of life in the modern Netherlands.

Giving birth in the Netherlands

Giving birth in the Netherlands

The challenges and benefits of the maternity system in the Netherlands and how it differs to other countries.