Saturday, August 24, 2013

NL: ABN Amro to be reprivatized soon - taxpayer's 'rescue bill' likely between 7 and 22 bn €

Dutch government expects loss on ABN Amro sale (rte.ie, Aug 23rd 2013)
ABN AMRO bad debts rise as government plans sale (reuters.com, Aug 23rd 2013)
ABN Amro's IPO a heavy burden on the taxpayer (telegraaf.nl, Aug 24th 2013)(*)
Dutch Bank ABN Amro Takes Step Toward an I.P.O. (dealbook.nytimes.com, Aug 23rd 2013))
Lower house supports ABN Amro decision (nos.nl, Aug 23th 2013)(*)

The IPO decision
reactions & analysis (audio/video,nieuwsuur.nl, Aug 23rd 2013)(*)

The taxpayer's costs (32 bn€) for ABN Amro explained(*):

source: NOS - Dutch public TV (use link if embedded video doesn't work)

Earlier (2012) ...
A special commission ('De Wit commission') investigated the rescue of the Dutch financial sector during the financial crisis of 2008:

Criticism De Wit on bank rescue (text & video, nos.nl, Apr 11th 2012)(*)
De Wit: "big mistakes have been made" (text & video, nieuwsuur.nl, Apr 11th 2012(*)

(Former Dutch finance minister) Wouter Bos comments on De Wit commission's findings
(text & video, nieuwsuur.nl, Apr 12th 2012)(*) 

Former Dutch finance minister Gerrit Zalm is ABN Amro's CEO since nationalization

BTW: Insurer ASR has been rescued, too:
rescued for 3.65 bn €, government will likely get between 2.15 - 2.30 bn €
(sources: telegraaf.nl, Aug 24th 2013 & telegraaf.nl, Aug 23rd 2013) (*)

* = Dutch language




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