Skip to content
Subscriber Only

SNS Nationalized in Netherlands After Real Estate Losses

The 3.7 billion-euro ($5 billion) nationalization of SNS Reaal NV, the fourth-largest Dutch bank, was the only way to protect savers and the banking system, Prime Minister Mark Rutte said.

“The collapse of SNS would have put both in danger,” Rutte told reporters in The Hague yesterday. “We needed to intervene.”