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Title: Financial Ethics and the Use of Derivatives in Sovereign Debt Management
Subtitle: The Case of the Belgian 'Maystadt-swaps'
Author(s): VAN GERWEN, Jef , CASSIMON, Danny
Journal: Ethical Perspectives
Volume: 4    Issue: 2   Date: July 1997   
Pages: 94-104
DOI: 10.2143/EP.4.2.563007

Abstract :
On October 2, 1996, during the debate in the Belgian House of Representatives on the Federal Budget for 1997, Mr. Herman De Croo, a member of the opposition and chairman of the Flemish Liberal-Democratic Party (VLD), accused the Belgian federal Minister of Finance, Mr. Philippe Maystadt, of malgovernance: 'In its debt management policy, this government is speculating with the Belgian Franc without informing the House. At the moment, losses are due to amount to about 44.3 billion BEF.)

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