Today's Coming Crisis Movie

Tuesday, April 24, 2012

Dutch Cabinet Resigns After Austerity Talks Fail....They didn't Like being Dictated to by Brussels

Prime Minister Mark Rutte met the Dutch queen on Monday afternoon and tendered his government’s resignation after talks on austerity collapsed at the weekend.

The Dutch government’s failure to reach an agreement in talks to achieve tough spending cuts could see ratings agencies cut the country’s prized AAA-rating and nervous investors push up the country’s borrowing costs, and it will also have wider implications for the euro zone as a whole, analysts said on Monday.

Dutch Finance Minister Jan-Kees de Jager sought to reassure investors on Monday, telling CNBC in The Hague that the Netherlands had always displayed budget discipline and would continue to do so.

"The perception of financial markets is always important...and that's why I also have the message for financial markets that for decades the Netherlands have shown a solid fiscal budgetary policy and this will not change. In any government we have seen in the past we have seen solid policy and this will remain in the future," de Jager said. Read More