Dutch cabinet resigns over collapse of austeriy talks

Graham_Devon

Apparently this is hge news, and the worst news the Euro has faced since last Autumn.

Someone from Capital Ecomics was on, and gave a very blunt answer to the question "will Grecce now exit the Euro soon"...she answered "yes".

The Dutch government has been forced to offer its resignation after talks over its austerity budget for 2013 collapsed over the weekend. The political crisis was triggered by far-right leader Geert Wilders, who refused to support plans to make up to €16bn of cutbacks.

Without the backing of Wilders' Partij voor de Vrijheid, prime minister Mark Rutte's coalition government was left without a clear majority in the Dutch parliament (PVV wasn't a formal coalition partner, but was offering support to Rutte in parliament).

After holding an emergency cabinet meeting today to discuss the crisis, Rutte headed to the Dutch palace for a regular meeting with Queen Beatric -- where he offered his resignation.

The collapse of the Dutch government is a key moment in the history of the eurozone -- the first time that a northern European government at the core of the single currency union has been brought down since the crisis began.

Help! What does it all mean to the Euro? They are linking it to the French polls. All I know is the markets all made losses of the sort of scale they do everytime the eurozone groans.

shortchanged_2

And there was me thinking everything was all rosy in Euroland.

Graham_Devon

Reading a little more, it seems people are concerned that the contagion appears to be spreading to the north, rather than it being contained to the south.

Christine Legarde only said a couple of days ago that she see's a light recovery, with dark clouds on the horizon. And then this.

Wookster

Time to accept the Euro is kaput and dismantle it orderly.

The Euro has fallen to 1.27, markets have spoken (again) and politicians have (again) stuck their fingers in their ears.

vax2002

Geert Wilders wants to make 32 billion pounds of cuts, by leaving the EU.
Thats the net loss over 5 years

A._Badger

vax2002 wrote: »

Geert Wilders wants to make 32 billion pounds of cuts, by leaving the EU.
Thats the net loss over 5 years

In that case, can we borrow him once he's sorted-out Holland's problems?

Thrugelmir

Graham_Devon wrote: »

Reading a little more, it seems people are concerned that the contagion appears to be spreading to the north, rather than it being contained to the south.

Seems as if some politicians are living in La-La land.

Won't accept cuts to balance the books.

Have we been invaded by Martians? As I'm unsure if these people are from planet earth.

Wookster

Thrugelmir wrote: »

Seems as if some politicians are living in La-La land.

Politicians pretty much do what their electorate do and electorates are allergic to living within their means. Europe's leaders are failing to make the case for this in the most abject way.

Thrugelmir

Wookster wrote: »

Politicians pretty much do what their electorate do and electorates are allergic to living within their means.

Time is running out.

Graham_Devon

Thrugelmir wrote: »

Time is running out.

I'm sure they can buy some more yet.

A._Badger

Graham_Devon wrote: »

I'm sure they can buy some more yet.

And buying it with our money. As always!