23 April 2012

EUROZONE / NETHERLANDS : Brussel's Dutch Treat?; PM Rutte Resigns; Wilder Rejects Austerity.


     The eurozone's turmoil...is not over.
     One of its most stalwart austerity defenders..and one of its last true AAA bond risks...has  floundered...in efforts to pass a new budget package.
     As is custom...Dutch PM Mark Rutte (top foto) then tendered his entire cabinet's resignations to the Queen.
     Perhaps in play...are demands for severe austerity measures long championed by Germany...and the Dutch.
      Rutte's demise came about after an abrupt change by coalition partner...euroskeptic Geert Wilders (above foto).
     Wilders now believes the tough EU rules hurt the Dutch economy.
     It doesn't make sense "to suffer for the sake of the dictators in Brussels," Wilders said.
     Like long troubled Spain...the Dutch economy is now in recession...and may post a 4.6% deficit in 2012...well above the 3% target required by the EU.