Netherlands: Fall of Dutch Government a Bad Sign for Europe
Dutch Prime Minister Mark Rutte leaves the Royal Palace in the Hague on April 23, 2012 after submitting his government's resignation to Queen Beatrix. Rutte’s governing coalition collapsed after talks on austerity measures to be taken broke down. (ROBIN UTRECHT/AFP/Getty Images)
April 26, 2012
| Economics
| Europe
The ongoing fiscal austerity debate in the eurozone claimed another victim this week when Dutch Prime Minister Mark Rutte resigned over his government’s failure to come up with a budget plan for next year. Budget talks collapsed when the parties that make up the ruling coalition failed to agree on committing to policies set by Brussels.
The downfall of the Dutch government, coupled with a likely victory by France’s soft-on-austerity Socialist presidential candidate Francois Hollande, could signal a seismic shift in the political and economic environment in Europe. As Merkel’s allies fall one by one, the market is unlikely to react well at a time when the struggling governments of the periphery are trying to issue new debt. 

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