DutchNews – ABN AMRO Gets Ready For Privatisation, If The Timing Is Right – 22 July 2013

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( Lucas : If people do not know : here is some background. Dijselbloem has become minister of finance in the Dutch cabinet on 5th november 2012, he also got 21st january chairman of the Eurogroup ministers. Also Zalm has served in several cabinets as minister of fianance and stopped being in politics in 2006.  He got working for DSB Bank as financial director and head economics.  DSB Bank got negative in the news about the mortgages and loans they made. DSB Bank finally got  forced into bankruptcy. Zalm was chairman of The International Accounting Standards Committee Foundation (IASCF) and also got working as vice-president of the board of directors of ABN-AMRO on the fusion of the bank with Fortis Bank Netherlands. The ABN-AMRO got bailed out as bank by the Dutch people and got nationalized. In my view the inbred relationships of bankers and former high-ranking politicians that have also lots of inside knowledge should be prohibited to have any function that .This is one of many things that got politics corrupted, the inside knowledge, lobbyist insertion of favourable laws and policies,   institutional groups and so-called think tanks and non-profit groups where politicians are part of or member, conflict of interest gets that way normal, etc. Ethics and morals in this sector are rarely found. The following article shows there is still talk but no real progress abandoning bonuses and paying back bonuses . The people get still hit  with more austerity measures for all sort of debts that is not theirs as it was fraudulent in the first place.  Still the Dutch executives and bankers in payment are worldwide still in the top 5.)
Nationalised Dutch bank ABN Amro will be ready to be privatised again by next summer, chief executive Gerrit Zalm says in an interview with the Financial Times.Zalm said he wanted to be ready for the the state to begin selling its 100% stake in the bank in a year’s time.ABN Amro was nationalised in a €30bn deal following its abortive takeover by a combination of Royal Bank of Scotland, Fortis and Santander.In the interview Zalm says: ‘We are getting ready [for privatisation] but it all depends on the timing. What will the market look like?’ The timing may not be optimal because of the two years of recession in the Netherlands, the former finance minister says.Bonuses

In the interview Zalm also criticised current finance minister Jeroen Dijsselbloem’s plans to curb banking bonuses. This, he said, would undermine Dutch banks in their global operations.

www.dutchnews.nl / link to original article

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