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Dutch Cabinet Resigns

Tyler Durden's picture




 

As reported first thing this morning when we discussed the perfect storm in Europe, the Dutch government was expected to resign en masse in the aftermath of this weekend's auterity fiasco. Sure enough, that resignation is now fact.

From the WSJ:

Dutch Prime Minister Mark Rutte and his cabinet have resigned after failing to reach agreement on reducing the country's budget to meet European guidelines, the Dutch government information service said Monday.

 

The information service said that Mr. Rutte had met with Queen Beatrix and she had accepted his resignation, asking him to tend to pressing matters of state with a caretaker government for the time being. Mr. Rutte is due to address parliament Tuesday afternoon to discuss interim budget cuts and schedule new elections.

 

Talks over measures to slash the government's budget deficit collapsed over the weekend after seven weeks of negotiations, raising questions about the future commitment of one of the euro zone's foremost proponents of fiscal stringency to a German-led austerity agenda.

 

The Netherlands has been a key ally of Germany and one of the most vociferous supporters of austerity since Greece's debt problems initiated the euro-zone's debt crisis more than two years ago. But its economy is performing poorly and is expected to shrink this year, widening its budget deficit and making it one of the worst-performing in the euro zone.

 

The talks collapsed after the right-wing Freedom Party pulled out of talks with Mr. Rutte's center-right liberal party. The negotiations had been aimed at cutting the budget deficit to 3% of gross domestic product next year, in line with European Union rules, from a forecast 4.6%.

And so the final Catch 22 for Europe unfolds: impair banks and suffer threats of the end of the world, or impair citizens and suffer falling governments. Check to you.

 

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Mon, 04/23/2012 - 10:35 | 2366743 lolmao500
lolmao500's picture

And Obama is NOWHERE near resigning...

http://www.msnbc.msn.com/id/47138446/ns/politics-the_new_york_times/#.T5...

Shift on executive power lets Obama bypass rivals
President takes routes around congressional Republicans blocking his agenda

One Saturday last fall, President Obama interrupted a White House strategy meeting to raise an issue not on the agenda. He declared, aides recalled, that the administration needed to more aggressively use executive power to govern in the face of Congressional obstructionism.

“We had been attempting to highlight the inability of Congress to do anything,” recalled William M. Daley, who was the White House chief of staff at the time. “The president expressed frustration, saying we have got to scour everything and push the envelope in finding things we can do on our own.”

All hail Obama the emperor!

Mon, 04/23/2012 - 10:36 | 2366753 maxmad
maxmad's picture

Its collapsed!

Mon, 04/23/2012 - 10:37 | 2366758 Death and Gravity
Death and Gravity's picture

SHTF time, soon,

Mon, 04/23/2012 - 10:42 | 2366791 Badabing
Badabing's picture

No problem they will be replaced with ex Goldman employees!

Mon, 04/23/2012 - 10:56 | 2366852 johnu1978
johnu1978's picture

Better learn primitive skills while you still can!

Check out this link when you get a chance: http://www.heartrootnatureconnection.com

 

Enjoy,
John

Mon, 04/23/2012 - 14:00 | 2367676 lemonobrien
lemonobrien's picture

is masturbation a primitive skill? cause I'm good at that.

Mon, 04/23/2012 - 14:07 | 2367708 Hugh_Jorgan
Hugh_Jorgan's picture

"Centre-Right Liberal party"... That sounds like Europe all right.

Mon, 04/23/2012 - 11:00 | 2366869 Ratscam
Ratscam's picture

Queen Beatrix accepted his resignation.
But, but, ... isn,t Belgium a democrazy?

Mon, 04/23/2012 - 11:14 | 2366917 Abitdodgie
Abitdodgie's picture

What has Belgium got to do with it ?

Mon, 04/23/2012 - 11:25 | 2366996 Ratscam
Ratscam's picture

sorry netherlands but still don,t get the word parlimentary democrazy within a constitutional monarchy.

Mon, 04/23/2012 - 11:40 | 2367080 MieleBauknecht
MieleBauknecht's picture

In the Netherlands, the Queen is not a political figure, however she still has a role as "mediator" in the formation of the coalition government.

Mon, 04/23/2012 - 13:13 | 2367477 _ConanTheLibert...
_ConanTheLibertarian_'s picture

and by law you're not allowed to insult that taxpayer's money wasting bitch...

Mon, 04/23/2012 - 11:42 | 2367086 Transformer
Transformer's picture

"Queen Beatrix accepted his resignation.
But, but, ... isn,t Belgium a democrazy?"

 

In Europe and England, they have a special kind of democracy, where it's fine, as long as the king or queen agree.

Mon, 04/23/2012 - 11:56 | 2367136 Koffieshop
Koffieshop's picture

Basically, when push comes to shove, the parlement can do anything it wants with a sufficient majority.
If 1/2 + 1 of them want a particular government proposing particular laws, it will happen.
If 2/3 of them want to change our constitution (to abolish the monarchy or some such), it will happen.

Mon, 04/23/2012 - 12:03 | 2367160 LasVegasDave
LasVegasDave's picture

smoke some Kush

Itll get better

Or not

Mon, 04/23/2012 - 12:08 | 2367177 Koffieshop
Koffieshop's picture

Nope, I'm quite sure I'm right on this one.
Mind you I'm NOT talking about how dimwitted or corrupt the members of parlement may be.

Mon, 04/23/2012 - 11:21 | 2366957 mr_T
mr_T's picture

Have GS create some Tulip based derivatives.. its all good..

Mon, 04/23/2012 - 11:31 | 2367026 The trend is yo...
The trend is your friend's picture

saves them the job of having to get them fired and replaced by one og their own

Mon, 04/23/2012 - 10:48 | 2366820 MillionDollarBonus_
MillionDollarBonus_'s picture

This is absolutely pathetic. Leaders are supposed to be making tough decisions about how to fix the imbalances in the world economy, and what do these Dutch cowards do? Just give up! Simply appalling. I can understand why people are disenfranchised with their governments. All people want is for their governments to FIX the economy, and global leaders are responding with pathetic indecisiveness and fiscal impotence.

Mon, 04/23/2012 - 10:52 | 2366836 fonzannoon
fonzannoon's picture

There's MDB. You all may know him as "Joe the policeman" from the "What's goin down" episode of "Thats my mama!". Ladies and gentlemen Million Dollar Bonus.....Million Dollar Bonus!!!

Mon, 04/23/2012 - 10:56 | 2366842 prains
prains's picture

Catch MDB at your nearest Barnes and Noble, he's the guy standing outside the door of your toilet stall with a brush waiting for you to push out the dark one.

Mon, 04/23/2012 - 10:55 | 2366846 jus_lite_reading
jus_lite_reading's picture

The only thing pathetic... is you. Why is it that a shill ALWAYS has an American flag as avatar? Are we supposed to think you to be a real American because you wave your big American flag like so many "American" companies that sold this once great nation down the river. The game is over...

Mon, 04/23/2012 - 11:07 | 2366904 WonderDawg
WonderDawg's picture

Dude, his avatar is the ultimate in irony. An American flag with a dollar sign overlaid. If you don't get the sarcasm, you just aren't trying hard enough. And his handle? MillionDollarBonus? Think about it. The sarcasm and irony are so thick and obvious, many here apparently don't see it hiding in plain sight.

Mon, 04/23/2012 - 11:26 | 2367006 jus_lite_reading
jus_lite_reading's picture

At first, yes, I thought it was sarcasm. Now it's just tiresome like a gov't troll. I beginning to think it's Benny or Timmy...

Mon, 04/23/2012 - 11:58 | 2367144 fuu
fuu's picture

Gold dollar sign.

Mon, 04/23/2012 - 12:17 | 2367218 LowProfile
LowProfile's picture

Nice catch!

Tue, 04/24/2012 - 15:53 | 2371253 Postmortemism
Postmortemism's picture

MDB is the smartest commenter on zerohedge. How he emulates CNBC/TPTB wisdom so articulately is beyond me. You gotta sit back and just enjoy. 

Mon, 04/23/2012 - 11:17 | 2366933 azzhatter
azzhatter's picture

surely you are kidding right? Governments can't fix anything. If these sods had any capability they would be allowing the free markets to work. All this government tinkering is what brought us here. We need more governments to resign en masse

Mon, 04/23/2012 - 11:26 | 2366962 TWSceptic
TWSceptic's picture

No, leaders are supposed to respect the will of the voters. We are not living in a dictatorship in Europe (although with the EU we're not sure sometimes...)

 

But why am I still replying to a troll? ZH should have banned you a long time ago.

Mon, 04/23/2012 - 11:24 | 2366988 jumbo maverick
jumbo maverick's picture

from now on i give you a green arrow up. you write and piss almost everyone off. i dont get why they cant get that what you write is sarcasm and jokes. they are thinking literal. It's a damned joke GET IT!

Mon, 04/23/2012 - 19:40 | 2368734 StychoKiller
StychoKiller's picture

Yeah, but when you hear the same joke week after week after week...it just gets tiresome.

Mon, 04/23/2012 - 11:11 | 2366873 monkeyboy
monkeyboy's picture

Yep, it's a feeling I just can't seem to quell. A feeling which only seems to build that the SHTF time is approaching not only rather quickly, but seems to be accelerating.

Is it just me? So many seem oblivious to what's potentially around the corner, not that I have any idea what the future holds.

 

 

 

 

Mon, 04/23/2012 - 10:39 | 2366765 SheepDog-One
SheepDog-One's picture

Big deal, ObaMao steps around clowngress and USSC to do what he wants....which is WHAT exactly? Come kick my ass? Bring it on, bitches! Lets see what you big shit talkers got! Im bettin its de nada.

Mon, 04/23/2012 - 10:44 | 2366798 Everybodys All ...
Everybodys All American's picture

Obama is in a catch 22 ... His work arounds are his now to own. He owns it. Not Bush. Not the Republicans. Not Congress.

Trapped in his own politics.

Mon, 04/23/2012 - 10:47 | 2366814 SheepDog-One
SheepDog-One's picture

Did you see ObaMao get booed out of Fenway Park at the opener? Too funny. And whats with the dog story? Thats bizarre. 

Anyway, I guess the media can keep believing everyone loves ObaMao, but in the reality world he's despised.

Mon, 04/23/2012 - 10:47 | 2366815 GeorgeHayduke
GeorgeHayduke's picture

It's not just Obama who needs to resign. At least presidents are limited to 8 years of damage. members of congress can have lifetime careers as their constituents vote them in again and again, then bitch about government.

Mon, 04/23/2012 - 10:47 | 2366817 Benjamin Glutton
Benjamin Glutton's picture

not knowing the policy issue at hand is unfortunate.

 

after all, what the 2 parties are generally in agreement on is rarely in our best interest.

Mon, 04/23/2012 - 11:21 | 2366950 i-dog
i-dog's picture

 
Hmmm ... let's check this thesis:

Health care ... divided
Budget ... divided
Tax reductions ... opposed
Govt downsizing ... opposed 

Patriot Act ... almost unanimous
NDAA ... almost unanimous
Bailouts ... almost unanimous
War ... almost unanimous

Yep ... your thesis is sound. Nobel Prize in the offing! 

Mon, 04/23/2012 - 12:17 | 2367219 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Nobel Prize in the offing!

Nothing like damning with faint praise.  ;)

 

Mon, 04/23/2012 - 14:38 | 2367828 General Decline
General Decline's picture

"after all, what the 2 parties are generally in agreement on is rarely in our best interest."

The only thing worse than gridlock in Washington is no gridlock in Washington.

Mon, 04/23/2012 - 10:35 | 2366746 Seasmoke
Seasmoke's picture

Another crack in the dam

Mon, 04/23/2012 - 10:58 | 2366860 Agent P
Agent P's picture

Where's that Dutch boy when you need him?

Mon, 04/23/2012 - 11:20 | 2366947 The Big Ching-aso
The Big Ching-aso's picture

 

 

Check out Barney's place.   Pretty good chance he's there.

Mon, 04/23/2012 - 11:05 | 2366870 The Big Ching-aso
The Big Ching-aso's picture

 

 

Don't forget the big crack in the dyke too.

 

Mon, 04/23/2012 - 11:16 | 2366930 Nobody For President
Nobody For President's picture

You are talkin' about the German Prime Minister, right?

Mon, 04/23/2012 - 11:33 | 2366967 i-dog
i-dog's picture

No ... Hillary.

Mon, 04/23/2012 - 11:18 | 2366940 azzhatter
azzhatter's picture

Angie?

Mon, 04/23/2012 - 11:00 | 2366871 DosZap
Mon, 04/23/2012 - 10:37 | 2366748 hedgeless_horseman
hedgeless_horseman's picture

 

 

What if everybody goes Dutch, and nobody has any money?  Global dine and dash?  Don't be last out the door.

Mon, 04/23/2012 - 10:38 | 2366761 Rubicon
Rubicon's picture

Long Tulips.

Mon, 04/23/2012 - 10:49 | 2366828 SHEEPFUKKER
SHEEPFUKKER's picture

Careful or you will surely get burned in this Dutch oven. 

Mon, 04/23/2012 - 14:43 | 2367852 General Decline
General Decline's picture

Mmmmm. Dutch oven cooking. I wish I were sitting outside my tent in the Boundry Waters right now with my children cookin a Mountain Man breakfast in my Dutch oven. Intead, I'm in Nouadhibou, Mauritania working. F- me.

Mon, 04/23/2012 - 10:58 | 2366859 jus_lite_reading
jus_lite_reading's picture

There are more and more rumors that France is looking for ways to break free from the EU and the whole political landscape in France is divided like never before. Extreme right/left factions, communists, socialists have taken large parts of the vote... keep your eyes on France!

Mon, 04/23/2012 - 11:15 | 2366924 BorisTheBlade
BorisTheBlade's picture

Money is debt, so the point where world is headed towards is a lot of money, but no wealth.

Mon, 04/23/2012 - 12:05 | 2367165 El Oregonian
El Oregonian's picture

That would explain why Corine, the Bernank, and TIMMAH were struggling to get out the door at the same time...

Mon, 04/23/2012 - 10:37 | 2366755 SheepDog-One
SheepDog-One's picture

Going to the coffee shops.

Mon, 04/23/2012 - 10:41 | 2366782 pepperspray
pepperspray's picture

Make mine tobacco-free

Mon, 04/23/2012 - 10:52 | 2366832 WALLST8MY8BALL
WALLST8MY8BALL's picture

The Papilon has the best prices and "Blue Cheese" mmmmmm...

http://www.coffeeshop.freeuk.com/Papillon.html

 

 

Mon, 04/23/2012 - 10:38 | 2366760 Terminus C
Terminus C's picture

Are the dominoes falling or will the can be kicked yet one more time?

Mon, 04/23/2012 - 10:41 | 2366784 SheepDog-One
SheepDog-One's picture

Looks like peoples theory 'Theyre keeping everything looking OK for the 'elections' which are still 6 months out will be like juggling 12 chainsaws while log rolling at the same time in a lake of piranhas. Yea good luck with 'keeping things good' till 2013 lol.

Mon, 04/23/2012 - 10:55 | 2366851 DeadFred
DeadFred's picture

Formerly being one of those "they'll keep things nice until the election" types I'm going to have to concede to you. The question remains though whether this means they've decided on the Mormon puppet over the Kenyan puppet or does it mean they have less grasp on events than some (me) give them credit for, whoever 'they' are.

I'm going for the 'it's part of the script' option because it's more entertaining.

Mon, 04/23/2012 - 11:13 | 2366911 kridkrid
kridkrid's picture

My take on "the script".  I view American politics more like reality TV than a one hour drama.  Survivor doesn't care who wins, people tune in.  What is important to Survivor is 1. Casting and 2. the random plot twist thrown in along the way.  They don't need to give the actors lines or even "rig the vote"... though I'm sure some of this happens, from time to time.

I believe, for example, that Hillary vs. Obama was real.  Both sides wanted to "win" and both sides used playbooks in order to win.  Both sides paid "real consultants" real FRN's to create strategies to win. But at the end of the day, the real power in America didn't really care.  For the sake of the made for TV drama, they may have preferred the Obama outcome, but had things gone the other way, we would be more or less exactly where we are today.  Same it pretty much true of all of the rest of national politics, IMO.

Mon, 04/23/2012 - 11:13 | 2366918 WonderDawg
WonderDawg's picture

I'm in the camp that says, no, not part of the plan, they've lost control. One of my main reasons for believing this is, if a crash was part of the plan, they would have disarmed the US population first. They've tried to some degree, but it hasn't worked. I see the NDAA 2012 and Obama's recent EO as being desperate measures in response to the realization that shit is out of control and they're powerless to prevent an all out collapse of the global financial system. But that's just my sunny disposition shining through.

Mon, 04/23/2012 - 11:19 | 2366945 Nobody For President
Nobody For President's picture

Yeah Dawg, you're amazing. Even on Monday morning, you're lookin' at the bright side...

Mon, 04/23/2012 - 13:04 | 2367427 WonderDawg
WonderDawg's picture

Thanks, man. I try to be a beacon. Love your handle, by the way.

Mon, 04/23/2012 - 12:34 | 2367278 TheFourthStooge-ing
TheFourthStooge-ing's picture

DeadFred wondered:

Formerly being one of those "they'll keep things nice until the election" types I'm going to have to concede to you.

Agreed on both.

The question remains though whether this means they've decided on the Mormon puppet over the Kenyan puppet or does it mean they have less grasp on events than some (me) give them credit for, whoever 'they' are.

I'm tending to lean more toward the "reins of control slipping from their hands" point of view. I base that opinion on the observation that, rather than effecting any sort of control, 'they' appear to be focusing all of 'their' efforts solely on maintaining the illusion of control (NDAA, various executive orders, bogus economic recovery, sabre-rattling, see-something-say-something, et al.).

I'm going for the 'it's part of the script' option because it's more entertaining.

Either way, I think we're due for some entertainment of epic proportions. Let's hope that it doesn't devolve into the Killer Joke.

 

Mon, 04/23/2012 - 11:03 | 2366881 kridkrid
kridkrid's picture

Why do they need to keep things looking OK until the elections?  Two captured candidates and most (most likely all) of the governmental apparatus is captured.  Even if plan A has been "keeping things OK until the elections"... they have plans B, C and D ready in the wings, I'm sure.  I still think there's a chance that we end up with an R president who isn't Mitt Romney... though the drama of a brokered convention no longer seems plausible.

Mon, 04/23/2012 - 11:14 | 2366919 Hobbleknee
Hobbleknee's picture

...river of piranhas, headed toward a waterfall.

Mon, 04/23/2012 - 12:36 | 2367285 TheFourthStooge-ing
TheFourthStooge-ing's picture

...headed toward a waterfall, in the path of an oncoming tornado, during an earthquake.

 

Mon, 04/23/2012 - 13:16 | 2367493 _ConanTheLibert...
_ConanTheLibertarian_'s picture

The dominos are being kicked back up.

Mon, 04/23/2012 - 10:39 | 2366766 Stoploss
Stoploss's picture

Do we have some kind of turd shield over the east coast??

I am certain shit is in fact air borne, at this very second from the EZ.

Will it hit here? This time?

Mon, 04/23/2012 - 11:08 | 2366901 IToldYouSo
IToldYouSo's picture

Stoploss, the way I see it is that the "markets" always pick low hanging fruit first. Greece, Ireland, Portugal soon Spain, Italy etc etc. Then when they've fed well on the EZ extremities they'll take a close look at France and Germany and, of course, the UK. At this stage the collapse will be in full swing which means Japan, China and the great big elephant in the room that is the US will be properly and rigorously examined.

Of course, its just my opinion, but if I was a betting man I wouldnt bother hedging against this turn of events nor the speed at which it can unwind

Mon, 04/23/2012 - 10:39 | 2366767 jus_lite_reading
jus_lite_reading's picture

Every few weeks an EU gov't collapses... this is bullish for the global economy as it signals peace and happiness abound.

Mon, 04/23/2012 - 10:58 | 2366862 DeadFred
DeadFred's picture

It's also true that a government has to fall before it can be replaced by Goldman minions. This is simple mechanics.

Mon, 04/23/2012 - 10:41 | 2366772 DormRoom
DormRoom's picture

The illusion of a united Europe is exposed day by day.  Everyone is in survival mode, and leaning towards nationalism to put up walls against 'the others'. 

 

Young Greeks Struggle to Gain Foothold in Berlin

http://www.spiegel.de/international/germany/0,1518,827813,00.html

 

#Euro_project_fail

Mon, 04/23/2012 - 10:42 | 2366790 Death and Gravity
Death and Gravity's picture

Or rather, going to parties that are less insane and full of shit than the rest of the political class.

Mon, 04/23/2012 - 10:41 | 2366781 Benedict Farse
Benedict Farse's picture

Rumour that an argument between Merkl and Rutte has got out of hand. In fact he may have Guilder.

Guilder! Boom! Thank you. Here all week. Tip the steak, try the waitress.

Mon, 04/23/2012 - 10:47 | 2366822 The Big Ching-aso
The Big Ching-aso's picture

 

 

Hey, you sound like one of my proteges.  Did you know Guilder Rattner?   Yup, one of mine too.

 

Mon, 04/23/2012 - 10:52 | 2366837 Seize Mars
Seize Mars's picture

Arnold: coolest handle ever. Period.

Mon, 04/23/2012 - 11:07 | 2366905 DosZap
DosZap's picture

Everything's going good on this side of the Atlantic:

When you refer to Kali, what do you expect?.

I have have never seen a more moronic legislature, and state run government since I have been alive.

That states motto should be, the definintion of INSANITY.

Mon, 04/23/2012 - 10:46 | 2366795 JustObserving
JustObserving's picture

"impair banks and suffer threats of the end of the world, or impair citizens and suffer falling governments"

Or do like the US - manipulate your economic data so everything appears rosy.  All things are possible if you can lie.  Why cannot the Dutch hire some economists from the US BLS?


Mon, 04/23/2012 - 10:55 | 2366849 undertheradar
undertheradar's picture

They have higher paid ones here with the same story.

Mon, 04/23/2012 - 10:43 | 2366796 The Big Ching-aso
The Big Ching-aso's picture

 

 

The Dutch economy is really clogged up.   Must be those shoes.

Mon, 04/23/2012 - 12:11 | 2367196 Thomas Jefferson
Thomas Jefferson's picture

Do the Dutch still wear wooden shoes?  So trendy.

Mon, 04/23/2012 - 10:44 | 2366800 bobola
bobola's picture

Silver is way down this morning.

Great opportunity to buy physical metal on a dip in price.

Who do we thank...Blythe...???

 

 

Mon, 04/23/2012 - 10:48 | 2366825 SheepDog-One
SheepDog-One's picture

I bought a big bag of trashy silver dimes my dealer set aside for me this morning, NICE!

Mon, 04/23/2012 - 10:47 | 2366812 chipshot
chipshot's picture

we did the dine and dash when we were young punks....my 40 yd dash at 4.6 secs saved me but our fat friend was too slow  got caught and footed the bill....

damn those little bastards...

which countrys will be the quickest to the euro door exit?

Mon, 04/23/2012 - 11:33 | 2367038 WonderDawg
WonderDawg's picture

In your case, you didn't have to be the fastest, just not the slowest. That won't save the Euro countries, though being the fastest might delay the inevitable.

Mon, 04/23/2012 - 10:47 | 2366818 junkyardjack
junkyardjack's picture

Which Goldman alumni will the Rockefellers be placing in charge here?

Mon, 04/23/2012 - 10:47 | 2366819 GerritB
GerritB's picture

finally...it took some time but finally!

just hope geert wilders wont be in the next coalition...

Mon, 04/23/2012 - 10:47 | 2366823 navy62802
navy62802's picture

Jesus. Is it still only Monday???

Mon, 04/23/2012 - 10:48 | 2366824 midgetrannyporn
midgetrannyporn's picture

There are two kinds of people I can't stand. Those who are intolerant of other cultures, and the Dutch...

Mon, 04/23/2012 - 10:52 | 2366838 buzzsaw99
buzzsaw99's picture

We are sexy! We are sexy bitches, yes!

Mon, 04/23/2012 - 10:55 | 2366843 Spitzer
Spitzer's picture

Im a Dutch Canadian..

What did the Dutch ever do to you ?

Mon, 04/23/2012 - 11:05 | 2366888 Miss Expectations
Miss Expectations's picture

Mike Myers is Canadian...Austin Powers

http://www.youtube.com/watch?v=QJ882QYzr-M

Mon, 04/23/2012 - 10:53 | 2366840 overmedicatedun...
overmedicatedundersexed's picture

EU will appoint new leaders for the dutch...see greece and italy. next

Mon, 04/23/2012 - 10:55 | 2366850 Joe A
Joe A's picture

The budget talks concerned economizing 14 billion euro on top of the 18 billion euro already agreed to cut. That makes 32 billion euro or almost 7% of the nation's GDP. The 14 billion was due to the Netherlands not reaching the 3% budget deficit which was 'agreed' by the EU nations. NL has been the only country that stuck to the 3% budget deficit for years while others EU countries including France and Germany went over it. And now NL needs some leverage and 'no' says the EU. So, the government had to find a way to economize 14 billion in order to keep the masters in Brussels happy. That meant increasing VAT, cutting on care for the elderly (many of whom often only get washed once a week in a nursing home), cutting on education, etc. (but there is money to buy 85 JSFs in the future!).

One does not improve the economy by stiffling it with cuts. When people have less spending power they...welll...spend less. Wilders might be a looney but he was right not to agree with these draconion measures. The hell with the 3% EU budget deficit rule. NL per capita has been the biggest contributor to the EU budget for years and also per capita is the biggest contributor to the various bail out funds. So F 'em there in Brussels.

Mon, 04/23/2012 - 12:34 | 2367279 Sandmann
Sandmann's picture

there is money to buy 85 JSFs

 

I though Prince Bernhard was dead - is he still getting payoffs ?

Mon, 04/23/2012 - 10:59 | 2366864 yogibear
yogibear's picture

The Euro ponzi and stack of lies is starting to topple. Either Japan or the US is next. Ponzi schemes have to end at some time. Bernanke and the central banksters plan is to print their way out devalue troubled currencies to zero. 

Mon, 04/23/2012 - 10:59 | 2366866 monopoly
monopoly's picture

And it begins....

Mon, 04/23/2012 - 11:01 | 2366872 Catullus
Catullus's picture

Solution: grow a pair and default first. Hat tip to you Iceland. First one to default is the first one to recover. Nash that.

Mon, 04/23/2012 - 11:05 | 2366895 Widowmaker
Widowmaker's picture

In the end it's all one giant circle jerk/paper jam.

PC LOAD LETTER?  No one saw it coming.

Nothing a printer reboot and the fraud syndicate can't fix -- PRESTO, record bonuses for fuckups!

Mon, 04/23/2012 - 11:10 | 2366908 shovelhead
shovelhead's picture

 

What the hell did the Dutch do with all the revenue from weed and seed sales in Amsterdam?

Did they spend it all on coochie doctors for the hookers?

Shame... Seems like the Dutch are generally a pretty sensible people with their guilders.

Oh yeah... Sorry ...Euros.

Nevermind.

Mon, 04/23/2012 - 11:11 | 2366910 VonSalza
VonSalza's picture

Dear Goldman please save the dutch 1%

Mon, 04/23/2012 - 11:17 | 2366934 Snakeeyes
Snakeeyes's picture

Netherlands can't swallow austerity, neither can France. Watch riots increase in Italy, Spain and Portugal ,... and Greece.

And we have this Statist idiot Yellen saying that the Fed won't tighten.

http://confoundedinterest.wordpress.com/2012/04/23/yellen-announces-no-fed-tightening-after-twist-europe-rebels-against-austerity/

Mon, 04/23/2012 - 12:33 | 2367276 Sandmann
Sandmann's picture

90,000 on the streets of Prague....

Mon, 04/23/2012 - 11:46 | 2367099 KandiRaverHipster
KandiRaverHipster's picture

they ate the brown blotters.  tsk tsk.

Mon, 04/23/2012 - 12:09 | 2367179 Thomas Jefferson
Thomas Jefferson's picture

Looks like Europe is falling apart at the seams.  How long before we see German Panzer divisions rolling across the plains of Europe?

Mon, 04/23/2012 - 12:32 | 2367275 Sandmann
Sandmann's picture

How long before we see German Panzer divisions rolling across the plains of Europe?

Cannot do that without American permission - even in 1939 the US first had to declare Neutrality. More likely South Korea will be nuked by the angry North or Argentina will nationalise US businesses without compensation

Mon, 04/23/2012 - 15:11 | 2367954 General Decline
General Decline's picture

"Cannot do that without American permission".
I think you meant " Isreali permission"?

Mon, 04/23/2012 - 12:12 | 2367198 q99x2
q99x2's picture

They've earned a GS Technocrat. Bingo

Mon, 04/23/2012 - 15:55 | 2368141 Westcoastliberal
Westcoastliberal's picture

Does this mean the watchmaster at the coffee shops will again be able to sell herb to tourists?  Just sayin....

Mon, 04/23/2012 - 16:26 | 2368265 W10321303
W10321303's picture

Our only hope....the parasitic anti-capitalist....

"James Sanderson had encountered a rare moment of industrial harmony. It was the early 1990s, and the 750 men and women at Georgetown Steel were pumping out wire rods at peak performance. They had an abiding trust in management's ability to run a smart company. That allegiance was rewarded with fat profit-sharing checks. IN the basement-wage economy of Georgetown, S.C., Sanderson and his co-workers were blue-collar aritstocracy. ......

What we didn't know was that it was about to end. Hundreds of miles to the north in Boston, a future presidential candidate was sizing up Georgetown's books.   At the time, Mitt Romney had been running Bain Capital since 1984, minting a reputation as a prince of private investment. A future prospectus by Deutsche Bank would reveal that by the time he left in 1999, Bain had averaged a shimmering 88% annual return on investment. Romney would use that success to launch his political career.

His speciality was flipping companies -or what he often calls "creative destruction." It's the age-old theory that the new must constantly attack the old to bring efficiency to the economy, ....

His formula was simple: Bain would purchase a firm with little money down, then begin extracting huge management fees and paying Romney and his investors enormous dividends. The result was that previously profitable companies were now burdened with debt. But much like the Enron boys, Romney's battery of MBAs fancied themselves the smartest guys in the room. It didn't matter....

Bain would slash costs, jettison workers, reposition product lines and mergew its new companies with other firms. With luck, they'd be able to dump the firm in a few years for millions more than they'd paid for it.

But the beauty of Romney's thesis was that it really didn't matter if the company succeeded. Since he was yanking cash early and often, he would profit even if his targets collapsed.   Which was precisely the fate awaiting Georgetown Steel."   (sfweekly.com April 18-April 24, 2012)

Yeah, we need to replace Mr. Bo Jangels with the REAL thing. A TRUE blooksucking vampire parasite ZOMBIE, Mitt Romney....

Tue, 04/24/2012 - 19:47 | 2371904 MeelionDollerBogus
MeelionDollerBogus's picture

well, Queen Beatrix is one of the Bilderberg's most welcome so I imagine this can only help their designs, whatever they may be.

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