6 October 2008

The Dutch government completely nationalises Fortis
Most of Monday's papers report on Fortis banks in the Netherlands, including ABN Amro operations, which the Dutch government fully nationalised on Friday.

NRC.next reports that government intervention on this scale, EUR 16.8 billion, is unique in Dutch history.

The move was prompted by continuing problems despite a EUR 11.2 billion euro investment last Monday.

The problems were mostly caused by a record EUR 12.6 billion exposure to debt, but also by uncertainty at the European stock exchanges about Fortis’s value after being nationalised by the Dutch government.  

In a press conference, Finance Minister Wouter Bos said that the Netherlands “now owned a healthy company no longer at risk of being infected by the problems at Fortis' Belgian branch”.

NRC.next writes that the minister's statement irritated Belgium, which sold 75 percent of Fortis' Belgian branch to the French bank BNP Paribas in exchange for a 12 percent stake in Fortis.

To quote Monday's De Telegraaf: "Belgium is at one stroke a miniature banking state".

Amsterdam council wants to investigate HIV faith healings
AD reports that Labour MP Khadija Arib wants the health authourities to investigate HIV faith healings at the Pentecostal Church.

Ms Arib expressed her support of earlier appeals by the Amsterdam council and national gay interest group COC (Centre for Culture and Leisure).

The Pentecostal faith healings are seen as a threat to public health because HIV-infected patients who are declared healed may believe they no longer need medical treatment.

Amsterdam councillor Freek Ossel says it’s "a form of quackery".

The HIV faith healings are taking place at a number of churches, including the Embassy of God, a religious community led by former Amsterdam Christian Union councillor Yvette Lont.

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