Dijsselbloem template on how to save European financial sector.
Jeroen Dijsselbloem on how to save European Banks (via Reuters).
If we want to have a healthy, sound financial sector, the only way is to say, Look, there where you take on the risks, you must deal with them, and if you can't deal with them, then you shouldn't have taken them on.
The consequences may be that it's the end of story, and that is an approach that I think, now that we are out of the heat of the crisis, we should take.
It means deal with it before you get in trouble. Strengthen your banks, fix your balance sheets and realise that if a bank gets in trouble, the response will no longer automatically be that we'll come and take away your problem. We're going to push them back. That's the first response we need. Push them back. You deal with them.
A good template for banks everywhere? Banks need to be responsible for their investments and not put depositor money at risk.
Meanwhile back in the Netherlands, the global tax-avoiding network
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