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AN ELECTION IS likely to take place in the Netherlands later this year after discussions over an austerity budget collapsed over the weekend.
Leaders of the coalition parties in the Netherlands have been in negotiations for the last two months in an attempt to cut €16 billion from the national budget in order to meet deficit targets laid down by the EU.
Dutch Prime Minister Mark Rutte admitted the talks had collapsed after his centre-right coalition, which has been in power since October 2010, failed to agree on budget adjustments with ally Geert Wilders who refused to do a deal.
The New York Times is reporting that Rutte will tender his resignation to the Queen today amid a clamour for elections which would most likely be held in September or October.
The Dutch finance minister has flown home from the International Monetary Fund meeting in Washington to discuss the issue saying he still plans to submit the 2013 budget to the EYU by the end of this month.
Jan Kees De Jager told De Telegraaf that the AAA-rated country has a reputation for fiscal prudence and discipline and he wants to keep it that way.
Reuters reports that the government must now seek support from opposition parties for budget cuts before calling a new election.
But the failure to agree austerity measures has already spooked the markets with borrowing costs rising and fears that one of the strongest eurozone economies could now be drawn into the debt crisis.
The talks broke down after the far-right Freedom Party walked out of the three party talks.
Its leader Wilders said, according to BBC News, that the austerity package will “will damage economic growth and… severely effect the spending power of many people, especially pensioners”.
His party has been renowned for its anti-Islamic stance although in recent months had focused on populist issues such as the eurozone crisis.
- additional reporting from AP
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The emergency planning committee will sort it out I’m sure.
It was 4 degrees at 5.30am when I was going to work… Its raining here now Cork City
@Marcus Mc Cann: Breaking news: weather is different in different parts of country.
@Marcus Mc Cann:
Does the article actually say what the temp was?
Brass monkeys and all that, actually, my Mom had a set of those brass monkeys and they didn’t have any to freeze lol.
@Anna Carr: the brass monkey was actually the plate on which they stacked the canon balls on Royal Navy ships. The reference to freezing the balls off them was when so much ice built up on them that the canon balls would fall of the plate/monkey.
@Ivan Connolly: Myth!!!
And I say, “Hey, Lama, hey, how about a little something, you know, for the effort, you know.” And he says, “Oh, uh, there won’t be any money, but when you die, on your deathbed, you will receive total consciousness.” So I got that goin’ for me, which is nice.
have your say