Posted Sep 18, 2013 by Martin Armstrong
Netherlands is slipping down the Sovereign Debt Crisis as austerity measures failed. Netherlands will miss the EU’s deficit target, says a report by the State Economic Institute CPB. Prime Minister Mark Rutte is considered strong advocate stricter EU budgetary rules, but he fails because the entire idea of how to run a government used by modern politicians is fatally flawed.
Only 12% of the Dutch have any confidence in the current coalition government. The Dutch economy is in a 5 year recession minimum as unemployment continues to rise to the 7.5% level. Also Sybrand van Haersma-Buma, head of the Christian Democrats, has criticized the government for tax increases, rightly stating they are “fatal to economic growth.”