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In reply to the discussion: STOCK MARKET WATCH, Wednesday, December 14, 2011 [View all]xchrom
(108,903 posts)19. europe: Euro Crisis Shows Dutch Converge With Germany
http://www.bloomberg.com/news/2011-12-13/euro-tumult-shows-netherlands-converging-with-germany-at-expense-of-france.html
When it comes to fighting the European crisis, the Netherlands may as well be a part of Germany.
The Dutch are often a mainstay for the Germans, and as such, play a bigger role than justified by their economy, said Sylvester Eijffinger, a professor of financial economics at Tilburg University, 69 miles south of Amsterdam. Its good for Germany because it never wants to be accused of going it alone, he said.
As European leaders have struggled for more than two years to tame their financial crisis, the Dutch government has sided with neighboring Germany in pushing austerity and central bank independence, underscoring differences between northern and southern Europe in seeking solutions.
In February 2010, then acting Dutch Prime Minister Jan Peter Balkenende called German Chancellor Angela Merkel to say the International Monetary Fund should help Greece solve its funding needs. The plan was opposed by French President Nicolas Sarkozy, who said it would show the European Union couldnt solve its own crises. A month later, EU leaders went to the Washington-based IMF for aid.
When it comes to fighting the European crisis, the Netherlands may as well be a part of Germany.
The Dutch are often a mainstay for the Germans, and as such, play a bigger role than justified by their economy, said Sylvester Eijffinger, a professor of financial economics at Tilburg University, 69 miles south of Amsterdam. Its good for Germany because it never wants to be accused of going it alone, he said.
As European leaders have struggled for more than two years to tame their financial crisis, the Dutch government has sided with neighboring Germany in pushing austerity and central bank independence, underscoring differences between northern and southern Europe in seeking solutions.
In February 2010, then acting Dutch Prime Minister Jan Peter Balkenende called German Chancellor Angela Merkel to say the International Monetary Fund should help Greece solve its funding needs. The plan was opposed by French President Nicolas Sarkozy, who said it would show the European Union couldnt solve its own crises. A month later, EU leaders went to the Washington-based IMF for aid.
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