AMSTERDAM—Weeks-long negotiations among the Netherlands' ruling coalition
parties on budget cuts collapsed Saturday, making early elections an inevitable
step and raising the prospect of a downgrade of the country's triple-A credit
rating. The center-right coalition government, led by Prime Minister Mark
Rutte's liberal party VVD, had been in talks for seven weeks with its right-wing
ally, the Freedom Party, or PVV, on a package of measures to bring the deficit
below the European Union limit of 3% of gross domestic product in 2013. The
negotiations, over budget cuts of €14 billion ($18.5 billion), had been in final
stages, Mr. Rutte said at a news conference Saturday, but the PVV "lacked of
political will, therefore we are standing here empty-handed." "Early elections
are now obvious," said Mr. Rutte, who informed the Queen about the situation.
Dutch economic minister Maxime Verhagen of governing Christian democratic CDA
party blamed Geert Wilders, the head of the populist, anti-Islam and anti-euro
PVV, for "not taking responsibility." Mr. Wilders said after the collapse of the
talks that his party will no longer support Mr. Rutte's center-right minority
government, and called for elections "as soon as possible." Earlier this week,
Fitch Ratings threatened to strip the Dutch of their cherished AAA credit score
if they failed to take action to cut their budget deficit and stop their debt
from rising. The rating firm will consider its rating of the Netherlands in
June, and placing it on negative outlook is a possible first step toward an
eventual downgrade, it said. The Netherlands is one of the four remaining
triple-A-rated countries in the euro zone, along with Germany, Finland and
Luxembourg. Klaas Knot, Dutch central bank chief and ECB governing council
member, has said the government's borrowing costs could rise significantly if it
lost its top rating. Without extra measures, the Netherlands will breach the
budget rules that it has been fiercely advocating as one of the euro's founding
nations. This has fueled a debate on whether the country still belongs to the
group of "core" euro-zone states with solid public finances.
Access Investments-Building Awareness - European Union-ROMANIA
Monday, April 23, 2012
AMSTERDAM—Weeks-long negotiations among the Netherlands' ruling coalition
parties on budget cuts collapsed Saturday, making early elections an inevitable
step and raising the prospect of a downgrade of the country's triple-A credit
rating. The center-right coalition government, led by Prime Minister Mark
Rutte's liberal party VVD, had been in talks for seven weeks with its right-wing
ally, the Freedom Party, or PVV, on a package of measures to bring the deficit
below the European Union limit of 3% of gross domestic product in 2013. The
negotiations, over budget cuts of €14 billion ($18.5 billion), had been in final
stages, Mr. Rutte said at a news conference Saturday, but the PVV "lacked of
political will, therefore we are standing here empty-handed." "Early elections
are now obvious," said Mr. Rutte, who informed the Queen about the situation.
Dutch economic minister Maxime Verhagen of governing Christian democratic CDA
party blamed Geert Wilders, the head of the populist, anti-Islam and anti-euro
PVV, for "not taking responsibility." Mr. Wilders said after the collapse of the
talks that his party will no longer support Mr. Rutte's center-right minority
government, and called for elections "as soon as possible." Earlier this week,
Fitch Ratings threatened to strip the Dutch of their cherished AAA credit score
if they failed to take action to cut their budget deficit and stop their debt
from rising. The rating firm will consider its rating of the Netherlands in
June, and placing it on negative outlook is a possible first step toward an
eventual downgrade, it said. The Netherlands is one of the four remaining
triple-A-rated countries in the euro zone, along with Germany, Finland and
Luxembourg. Klaas Knot, Dutch central bank chief and ECB governing council
member, has said the government's borrowing costs could rise significantly if it
lost its top rating. Without extra measures, the Netherlands will breach the
budget rules that it has been fiercely advocating as one of the euro's founding
nations. This has fueled a debate on whether the country still belongs to the
group of "core" euro-zone states with solid public finances.
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1 comment:
The great wet dream of the EU was to bring Europe closer together, in fact its driving countries further apart. Get ready for trouble, I'm pretty sure it can't be too long in coming.....For many people in the Netherlands, last Saturday was a day to rejoice as it probably meant that the really awful anti-Europe, anti-immigrant, anti-foreigners, anti-Islam, anti-elite, anti-arts & culture, anti-nature & environment, anti-the Dutch Royal family, anti-etc.etc. etc. etc. etc. Freedom Party of the extreme right-wing political extremist Geert Wilders will now finally stop being the passive partner of the Dutch right-wing minority government of our Prime Minister Mark Rutte. During the last few years, this, in my personal opinion, dangerous, fascist and racist political party of Geert Wilders has managed single-handedly to almost completely destroy the good name internationally of the Netherlands, which used to be one of the very best countries in the world, in every sense of the word. I personally pray and hope that the next Dutch government after possibly and it now looks, almost inevitable Dutch new elections, probably and most possibly after the summer of 2012 (hopefully the Dutch Labour party headed at the moment by the young & dynamic Mr. Diederik Samsom, a qualified nuclear scientist and a former Greenpeace activist!, will win enough seats to form the next Dutch government) will still manage in time to restore the good name internationally of this, if I may say so, most unique , progressive and liberal country. I deeply love the Netherlands and I personally think and feel that there is no place in our society (perhaps other than on the opposition benches in the Dutch Parliament) for the Freedom Party of Geert Wilders which is literally tearing our wonderful country apart during the last few years....May God Bless The Netherlands and protect/free all Dutch people from now on from all Dutch political bigots, racists and fascists!!!...I Wonder if anyone from Brussel's will Dare tell the dutch,
they are not Allowed to have an election,
like they told the greeks and the irish!...
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