Former Finance Minister Jeroen Dijsselbloem is critical of the Dutch and French governments' plans to provide Air France-KLM with billions of euros in emergency support. It is very risky to extent such major loans to companies that are already in dept, he said to Buitenhof.
Dutch parliamentarians want a number of additional conditions attached to a coronavirus aid package for KLM. Groenlinks wants the airlines' financial partners to help pay for the aid package. Various parties want high-earning pilots to accept salary cuts. And a majority agrees that KLM should not pay any bonuses or dividends as long as it is dependent on state aid.
The KLM management thinks that the current coronavirus crisis could mean the end of the Air France-KLM combination. According to the Dutch part of the combination, Air France needs to drastically cut costs, but it seems increasingly unlikely that the French airline will do so given the 7 billion euros bailout the French government is providing, people involved told Financieele Dagblad.
Despite the coronavirus crisis and its horrific affects on air travel, Air France-KLM wants to adjust its bonus conditions for CEO Ben Smith so that he still has a chance of getting a bonus on top of his salary at the end of the year. KLM and Finance Minister Wopke Hoekstra are flabbergasted, NOS reports.
The Dutch government made a total of 950 million euros in extra support available for the cultural sector and parts of the agricultural sector. 300 million euros was made available to support crucial institutions in the culture sector through the hardest months of the coronavirus crisis, and for the sector to start investing in the coming season. And a total of 650 million euros was set aside to compensate the flower sector, specific parts of food horticulture, and the fries potatoes sector for damage suffered by the Covid-19 outbreak, the Ministries involved announced.
About 67 percent of people believe the coronavirus restrictions in place in the Netherlands will last for six months or a year, a survey of Dutch people showed. The report, released by I&O Research, showed that about a third of the public was already concerned about their personal financial situations, less than three weeks after the government began imposing stricter measures on the public to combat the spread of the virus.
The Dutch taxpayers will probably not recover any of the money used for Greece's financial rescue, said Kees Vendrik, chairman of the Court of Audit in the Netherlands. Dutch people should be realistic about repayment given the current situation, Vendrik told on a television program Radar Extra.
Greek Prime Minister Alexis Tsipras criticized the Dutch Finance Minister Jeroen Dijsselbloem in a late-night interview on Monday. He accused the European Central Bank and Dijsselbloem, also president of the Eurogroup, of treating Greece unequally and breaking promises, reported Bloomberg.
Keeping Greece in the eurozone and strengthening the monetary union remains the main objective of the Eurogroup chairman Jeroen Dijsselbloem. The Dutch Finance Minister told broadcaster BNR that there are scenarios ready in case of Greece not meeting the EU requirements in July.