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# Unwilling capitalists
- URL: https://www.opendemocracy.net/en/unwilling-capitalists/
- Published: 2008-10-01T10:10:00.000Z
- Updated: 2019-02-14T22:41:46.000Z
- Author: Tony Curzon Price
- Tags: #en, #Migrated, #Import 2026-04-09 18:49

My note to Willem Buiter on [his praise of the Fortis "nationalisation"](http://blogs.ft.com/maverecon/2008/09/a-bad-day-for-benelux-banking-a-great-day-for-europe/?ref=opendemocracy.net):

Dear Professor Buiter,  
I agree that Fortis shows that the worry - expressed [just today by Munchau in the FT](http://www.ft.com/cms/s/0/26e9b876-8d8b-11dd-83d5-0000779fd18c.html?ref=opendemocracy.net) \- that Eu cannot respond in a crisis is wrong. But the outcome of the capital injection seems favourable compared to what would come out of TARP, no?

51% of old shareholdings preserved --- doesn't this show that a little more transparency to voters in the Benelux might have got them a better deal?

Taxpayers are unwilling risk capitalists here, and that should make our representatives negotiate harder for our upside, not less hard.  
Best wishes,  
Tony