Negotiations among coalition members on further budgetary cuts collapsed yesterday as the Neonazi Freedom Party reclaimed early elections rather than committing to unpopular measures.
The Dutch state among the few hard-core supporters of the German-led Austerity Party of the Eurozone (the other member is Austria) but its economy has been performing poorly as the euro-crisis extends to every single state, making the likelihood of budgetary cuts lower, as public investment and social protection are understood as necessary to compensate for the failures of Capitalist economy that is unable right now to bring prosperity and social peace to anywhere on Earth.
Recently some of the US-based so-called rating agencies (global usury ringleaders who deserve only spite and rejection) threatened the Netherlands with downgrading its credit rating if budgetary cuts were not approved.
Besides of a budget deficit slightly over the EU hopes of just 3% of GDP (4.6%), the Netherlands also face one of the most brutal mortgage bubbles of Europe.
Source: The Wall Street Journal.
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