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Dutch mount ING rescue

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Dutch mount ING rescue

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The Dutch government has agreed a 10 billion euro cash injection into the ING financial and insurance group.

The move comes after ING asked for help to bolster its capital position to provide a buffer against the ongoing financial crisis.

The money will buy the Dutch State an 8.5 percent stake in the bank as well two seats on the board and a say in executive pay.

Like other European governments and the United States the Dutch have backed bank loans to try to calm the credit market.

The Dutch have also recently nationalised Fortis and ABN AMRO.