Dutch investigating fall-out of Greek bankruptcy

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The Dutch finance ministry regards the bankruptcy of Greece as inevitable. The cabinet assumes Greece will not be able to meet its financial obligations. News channel RTL Nieuws made the above statement based on information provided by reliable sources.

Finance Minister Jan Kees de Jager has confirmed that the Netherlands is making preparations for a Greek bankruptcy. “We are making preparations for a number of scenarios, both probable and improbable. We are doing this under the utmost secrecy in collaboration with the De Nederlandsche Bank Dutch central bank and other countries,” Mr de Jager said. The idea is to let Greece go bankrupt in a controlled fashion to prevent panic breaking out in the financial world.

Freedom Party leader Geert Wilders is demanding that the cabinet presents a contingency plan for the fall of Greece as soon as possible. The party, which provides the conservative minority cabinet with parliamentary support, wants to know how a Greek bankruptcy would affect the Netherlands. “I want full disclosure from the cabinet,” Mr Wilders said in an interview with national newspaper De Telegraaf. The Freedom Party leader fears the Netherlands is about to be dragged down in ‘the fall of Athens’. The Green Left and the democrat party D66 also want the cabinet to quickly provide clarity.

The financial sector has long since lost faith in Greece’s ability to meet its financial obligations, but expects European banks will be strong enough to survive the effects of a bankruptcy. However, there is a fear that other countries such as Ireland, Spain and Italy may we dragged down with it. Greeks Prime Minister George Papandreaou, German Chancellor Angela Merkel and French President Nicolas Sarkozy are engaged in talks on the debt crisis gripping the Euro zone.

© Radio Netherlands Worldwide

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