Netherlands offers 20 bn euros for finance sector
October 10th, 2008 - 8:13 am ICT by IANSAmsterdam, Oct 10 (DPA) The Netherlands late Thursday made available another 20 billion euros ($27.3 billon) to shore up the liquidity of banks embattled by the global financial crisis, Finance Minister Wouter Bos said. Dutch central bank chief Nout Wellink said the funds would be made available for all financial firms that need it, including insurance groups.
The move comes one day after Icesave bank Netherlands, the Dutch subsidiary of Icelandic Landsbanki, Wednesday said it could no longer meet its financial obligations and blocked access to the savings accounts of its 120,000 clients.
The government in the Hague last month spent 16.8 billion euros to nationalise the Dutch part of Belgian-Dutch insurance giant Fortis.
- Dutch ING Group gets $13 bn from government - Oct 20, 2008
- All of Fortis activities in Netherlands nationalised - Oct 04, 2008
- Investors' verdict on Fortis nationalisation awaited - Sep 29, 2008
- Netherlands unfreezes Libyan funds - Sep 10, 2011
- Hague approves largest Hindu temple complex in mainland Europe - Feb 20, 2011
- Afghan President Karzai applauds Dutch efforts in phone call with PM Balkenende - Feb 22, 2010
- U.S. Vice President Biden talks with Dutch Deputy PM Bos - Jan 20, 2010
- Suspended Ajax-AZ match to be replayed without spectators - Dec 28, 2011
- Dutch Government collapses over country's Afghanistan military mission - Feb 20, 2010
- Amsterdam mayor resigns, announces candidacy for Dutch Labour Party leader - Mar 12, 2010
- Ravi lauds Indian Diaspora - Sep 26, 2011
- Amsterdam airport evacuated after bomb threat - Feb 13, 2012
- Netherlands to unfreeze Libyan assets worth $2 bn - Sep 02, 2011
- Netherland apologises for scribe's Berlusconi remark - Oct 15, 2011
- Report: Amsterdam mayor to resign to become party leader - Mar 12, 2010
Tags: central bank chief, dutch central bank, dutch subsidiary, finance sector, global financial crisis, icesave, insurance giant, insurance groups, landsbanki, wouter bos
