In an appearance on BNR Nieuwsradio Bas Jacobs states that more than ten years after the financial crisis, we still seem unable to deal with a next crisis. According to Bas Jacobs, Professor of Public Finance and Economic Policy at Erasmus School of Economics, this is because the financial architecture of the Netherlands is still not well organized.
‘The way in which we save our money is not well organized in the Netherlands,’ he says. 'Because we finance our economy very strongly with a lot of debt and a lot of and little equity, our economy becomes financially fragile and vulnerable and it strengthens the cyclical fluctuations of the economy'.
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For more information watch the whole video (in Dutch) of BNR Nieuwsradio on Youtube, 12 June 2018.