Nexit Looms - Dutch Parliament To Debate Leaving The Eurozone

Tyler Durden's picture

Submitted by Michael Shedlock via MishTalk.com,

Potential Eurozone disruption possibilities keep compounding.

For example, the Netherlands Parliament will now debate leaving the Eurozone.

In long-winded wording for a potential “Nexit”, Reuters reports Dutch relations with euro up for debate after lawmakers commission probe

The Netherlands’ future relationship with the euro will be comprehensively debated by its parliament following elections in March after lawmakers commissioned a report on the currency’s future.

 

The motion approving the investigation by the Council of State, the government’s legal advisor, coincides with a rising tide of euroscepticism in Europe, which populist parties are hoping to tap into in a series of national elections this year also taking in eurozone powerhouses France and Germany.

 

The probe will examine whether it would be possible for the Dutch to withdraw from the single currency, and if so how, said lawmaker Pieter Omtzigt.

 

Omtzigt, of the opposition Christian Democrats, tabled the parliamentary motion calling for the investigation, which legislators passed unanimously late on Thursday.

 

It was prompted by concerns the ECB’s ultra-low interest rates are hurting Dutch savers, especially pensioners, and doubts as to whether its bond purchasing programs are legal, he said.

 

Its findings will be presented in several months, by which time the make-up of parliament will have changed dramatically.

 

While most Dutch voters say they favor retaining the euro, the eurosceptic far-right party of Geert Wilders is expected to book large gains though it is unlikely to win enough votes to form a government.

 

The most probable outcome of the March 15 vote is a new centrist coalition including some parties, such as Omtzigt’s Christian Democrats, that have been vocal in their opposition to current ECB policy.

 

“The problems with the euro have not been solved,” Omtzigt said. “This is a way for us to look at ways forward with no taboos.”

Analysis

Geert Wilders is likely to “win” the Dutch election. In this case, “win” means get more votes than any other political party.

However, the odds that Wilders can form a stable coalition with Wilders heading up the government is slim.

Netherlands Polls

dutch-elections-2017-02-24

The first line in the above table of Netherlands Polls is from the 2012 election, the rest of the lines are from February of this year.

History suggests those polls may be wildly inaccurate, but most of the parties ruled out a coalition with Wilders’ PVV.

In terms on “Nexit”, if Wilders can get 26% of the vote with another 24% agreeing, there just may be enough votes in parliament for the Netherlands to abandon the Euro, assuming the public would go along.

And 'Nexit' odds are increasing...

h/t @Schuldensuehner

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LetThemEatRand's picture

"The probe will examine whether it would be possible for the Dutch to withdraw from the single currency...."

If you as a sovereign entity have to ask whether it is possible to withdraw from what was supposed to be a purely voluntary organization, the correct answer is under your nose.

knukles's picture

Oh, ik moet een gemiste omlah hier of daar.

EuroPox's picture

Membership of the Euro is required for all EU countries, except those with an opt out - the Dutch do not have an opt out.  So under the EU rules there is no way for Holland to leave the Euro ... except by also leaving the EU and recovering sovereignty.

Come on Holland NEXIT!!

y3maxx's picture

Sure looks like the Armed Forces, Big Pharma and Wall Street control Trump's Presidency.

and just like Obama.......Trump will be awarded the Nobel Peace Prize

New boss, same as the old boss.

Dead Canary's picture

Nexit? I like "Holl-ass".

Mr 9x19's picture

not gonna happen,

 

no one on eurozone will go out,  if so, it means end of euro, everyone or nobody.

 

act accordingly.

veeger's picture

and who makes these rules  ????......nato..??

veeger's picture

and permission to evacuate will  definately have to be signed off by the vatican, the u.n. , nato , and most definately the council of foreign relations..........

veeger's picture

council of foreign relations=====fucking as many of your neighbors as possible....

yogibear's picture

Join the FU to the globalist party. Sure to be a hoot!

 

veeger's picture

the treasonist politicians see the pitchforks and torches coming......so lets blame it on the eruo ....something..something ...quick...

ms8173's picture

Well where's article 50?  Lets start there first!

Irving Phelps's picture

The EU needs a big fucking enima so let the shit show begin!

Davidduke2000's picture

It all started with Trump, he showed the world how to have a spine , congress is spineless like jelly fish. 

turnball the banker's picture
turnball the banker (not verified) Davidduke2000 Feb 25, 2017 8:40 PM

Brexit was before Trump dickwad

Advoc8tr's picture

It all started with Nigel Farage and the Brittish "unwashed masses" ... you guys are followers this time - which is largely irrelevant given you're at least on the bandwagon.  Spare a thought for those of us whose version of Nigel and Donald is a fish and chip shop owning lady named Pauline.  

Nexus789's picture

She is the intellectual colossus of Australian politics. 

Baronneke's picture

" but most of the parties ruled out a coalition with Wilders’ PVV"

 

Nice "Democracy" we live in.  The Hell with all those goddamned so called politicians, and not just in the Netherlands but all over the world. 

 

 

veeger's picture

the "democracies "of the u.s.a. , of europe ,japan ,australia , and the rest of the u.s.a.s' minions have no resemblance to a democratic government anymore.....most of the world is controlled by a handfull of people...........it would be more accurate to call it a tryannical oligharchy................

Singelguy's picture

Just like in the USA, party affiliation means nothing. In the Netherlands there is a cabal of about 10,000 people who are constantly in the revolving door from the boardrooms of the multinational corporations to parliament or heading up one of the myriad of agencies that make up the Dutch government. The only way to get real change is to clean house and get the majority of those 10,000 people out of the corridors of power.

Joe A's picture

This article is joking right? The Dutch parliament is a bunch of EU asskissers, voluntarily handing over Dutch sovereignty to Brussels. Recently they voted in favor of ignoring the outcome of a referendum held last year about the Ukraine EU association agreement. To that agreement, PM Mark Rutte added a paper with some non binding legal adjustments (Ukraine did not sign that paper btw.). He put this in front of the parliament and said it does justice to the outcome of the referendum. Really? "No is no" became "no is yes".

Omzigt is one of the few good men. He is also bugging the government to come clean about MH17. He is sending motion after motion to the government, petitioning to come up with answers. The government provides them (they are obligated to) but they are highly edited.

The year that the Euro was introduced in NL was the year the country went into recession because we lost 10% of our economy overnight due to a badly negotiated exchange rate to the Euro. Then we got the government of Balkenende (who also more or less ignored a referendum about the EU constitution in 2005) that send us back into recession just when we got out of it by imposing austerity.

This government of Rutte is the most lying and deceiving government the country has known since that pre WWII government that told the country that we could sleep quietly and that there would be no war.

whatamaroon's picture

'Gert Wilders forced to suspend campaign apperances under death threats' An insider Morracan policeman suspect in plot to kill Wilders;

 

http://hotair.com/archives/2017/02/25/geert-wilders-forced-to-suspend-ca...

jerry1800's picture

NL wll never leave the EU & €€

androkles's picture

NL will not initiate a break-up. That is between Germany and France. If that happens, NL will ally with Germany.

tuetenueggel's picture

But then all marocaan sandnigers must be thrown out before we accept NL at our side.

Itinerant's picture

The Netherlands is the last country that will break with the Euro/EU.

[1] Wilders is typically a protest party which will fall apart if it were to assume government responsibility, and is in truth a one pony (politician) trick.

[2] The Netherlands were at the heart of the BeNeLux, which was the seed crystal for the 6 country ECSC which later became the EEG/EU.

[3] The Dutch guilder was quasi-pegged to the German mark before the Euro. No two economies are interwoven more than the Dutch and the German (incl Cdn/US). Even singers and celebrities often "graduate" to the German market.

[4] In 2014 the Netherlands had the 7th largest trade surplus in the world, despite a population of only 16 million. In relative terms, the surplus is 10% of GDP compared to 8% for Germany and 4% for China. The Netherlands is responsible for more than 30% of the entire French trade deficit. This would be far larger if there were no EU quota limiting Dutch agricultural exports.

[5] In 2014 the Netherlands exported B$672 and imported B$587 relative to B$881 of GDP. No economy in the world is as dependant on trade as is the Dutch.

Unless the Dutch become as suicidal as Ukranians, they will opt to intensify international and European ties, regardless the fate of €U. Don't forget this is the country where econometrics as a discipline was launched, the trade figures of the CBS (Central Bureau Statistiek) are often cited internationally in articles on global trade flows, the 3 largest banks each have a balance sheet in the same order of magnitude as GDP, and of which René Descartes quipped to his French friends that he had complete freedom of expression because everybody was too busy earning money to even bother about what he was writing.

poldark's picture

It is the people of the world versus the World Fascist Government.

 

Know shit's picture

Leaving the eurozone and thus the Euro is just a small step.

Lesser government, jail the private bankers and take away their money creation role, abandon fractional reserve banking, less rules, less taxes, breakingup multinationals, make sure every sane dutch man and woman knows how to handle a gun safely and has one (or more),. Etc

Sorry sometimes I dream during daytime.

Take care.

LazyDaze's picture

Another Dutch referendum?  No big deal:  the Dutch themselves, and the EU in general, have a track record of ignoring the results of Dutch referenda that they don't like.

tuetenueggel's picture

These voices always arise short time before elections.

They want the people to believe, that ( always proposed ) after the elections, everything bad will be changed to good.

Even Germaný´s  spD, who was 16 of the recent 20 years part of government now claims, that they will take a closer look at the poor in our community. Didn´t they find the time in the last 20 years ? Were there no poor retirees and children and moms alone feeding her kids ?

No. So lets take that speech as what it is:

Fake news by gvmt. They are afraid that their parliament seat vanish.

Same in Netherlands. Terribly afraid thet Geert could become the strongest political party and win the elections. France with Marine le Pen the same.

Poekieman's picture

 

Nexit is not looming at all, but Pieter Omtzigt starting a debate about the EUR and its consequences is a good thing. This debate should have been held before NL - foolishly - joined the EUR, but Omtzigt cannot be blamed for that. I think he was not even a member of parliament then.

 

Omtzigt is one of the 'good guys' unlike the rest of the CDA party of which he is a member. And unlike most of the parlementarians.

 

I think most NL parlementarians aspire a very well paying - lowly taxed - 'job' with excelent pension and other benefits in Brussels, so they will always do whatever Brussels wants them to do.

 

No chance for Nexit, unless some miracle were to happen. Better leave the country / EU before it desintegrates.

 

Vageling's picture

Yeah... Like that fat pig, drama clown Timmermans. Obnoxious arrogant fuck.

Vageling's picture

Again? What a clownshow. When they (I think Eurogruppenführer Dijsselbloem) investigated if it was possible to bring back the Gulden (Guilder) every parliamuppet got all butthurt! Now with elections coming up? Fuck them. Nothing but theater. In the hard words of Wilders: Fake Parliament! Gets them butthurt so it can't be said enough.

And fuck the Raad van State! Crony institute. How's life Jankert Pietje Huilert Donner? Still sitting cusy you fucking fuck! Get stuffed! The German term is appropriate Der StaatsRAT. 

It's theather. All theather. Only Wilders is serious. Rutte is a pathological liar. Guy should have resigned with all those scandals his cabinet members were in. But the teflon man has no morals. Fag has EU dick up his ass. How many Justice Ministers further are we?

Legal advice. There is no law here. Justice department is run by criminals.

Non article. Means nothing. And Omtzigt should leave that traitor club CDA! May they never be relevant again due to Balkende arrogance.

androkles's picture

Most comments are right. Pieter Omzicht is a good guy, he likes the truth and likes to dig, and therefore he is an exception, and even an embarassment to his fellow central christian democrats. He has been named autistic. This shows how complacent and stupid the Dutch are.

Yes it is true, politics is theater, they even think they can control all minds with "role model" and "opinion makers" and "nudging", but we'll see.

I'm also a bit hopeful. Elections in France may bring about "hope and change". France has suffered longer and more under "les arabs", and they have more of a history with revolutions and such compared to the Dutch.

Otherwise, personally ,I've decided three years ago to ignore the Dutch fleet and save my own ship. Short euro, short europe, and using instruments under my control.

Cheers.

Tlön Uqbar's picture
Tlön Uqbar (not verified) Feb 26, 2017 2:40 PM

Tulips! Get yer tulips!

Fucking awesome.