The Dutch government has readied €20 billion (US$27.4 billion) in funding to support financial institutions in the Netherlands during the ongoing credit crisis.During the press conference Finance Minister Wouter Bos said the money is not necessarily spent, but is meant to restart the credit flow and thus fibrillate the (Dutch) economy. Compared to the US bail-out it is rather paltry. Then again, the problems facing the US and UK financial markets are less of an issue in the Netherlands.
Finance Minister Wouter Bos says the money will be available to any "essentially healthy" bank or insurer.
He told reporters Thursday that the move was aimed "to protect essentially healthy financial institutions against extreme shocks."
Tomorrow we'll see what the market thinks...