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Opalesque Exclusive: TCI/ABN feud couldn`t have come at a worse moment A Dutch industry specialist shares his macro and local insights on the Dutch events with Opalesque:

• The hearing was requested by the left wing Socialist Party (much more left than the Dutch Labour Party). The Socialist Party gained a lot of seats in the new parliament following the recent elections. They declined to take part in the new government under a strategy whereby it is better to criticise other people's ideas rather than think own mediocre ones yourself. In particular with the economic climate changing this is perhaps a better electoral strategy.

• The Dutch Labour Party is under a lot of pressure to show true colours. After being out of governmental power for about 9 years they thought they would win the majority in the elections. When they didn't it was a big blow to their self-esteem and an embarrassment vis-a-vis their voters. In the subsequent government formations they were -too- eager to take part in the government and got a few ministerial portfolios, amongst them Finance.
• The TCI/ABN feud couldn't have come at a worse moment. The new Labour party Finance minister has to show his colours and been showing to do something. Barclays/ABN will be an option since there will be minimal lay-offs and head-office will be Amsterdam. The TCI attitude is rubbing up various 'stakeholders' the wrong way: Unions (gaining power), Labour, Socialist Party.........................

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