‘We had a banking crisis, a fiscal crisis and we spent lot of the tax-payers’ money – in the wrong way, in my opinion – to save the banks’ outgoing Eurogroup head Jeroen Dijsselbloem said adding ‘so that the people criticizing us and saying that everything was being done for the benefit of the banks were to some extent right.’
As KeepTalkingGreece.com reports, Dijsselbloem was responding to a question posed by leftist MEP Nikos Chountis during a session at the European Parliament’s Employment and Social Affairs Committee on Thursday.
‘This is valid for the banks of all our countries. Everywhere in Europe banks were saved at taxpayers’ cost,’ he underlined. ‘This was the reason for banking union and the introduction of higher standards, better supervision and a reform and rescue framework when banks have losses,’ he said stressing ‘precisely so that we don’t find ourselves in that situation again.’
This post was published at Zero Hedge on Nov 10, 2017.