Daily commentary: On Dutch Austerity

As I write this the lower house of Dutch Parliament is debating what and where to cut in order to get their budget under the 3% hurdle as quickly as possible. It is now clear from a number of the details coming from the Dutch press that the Dutch will not make the 3% hurdle in 2012 and what they are trying to do now is get under the hurdle by 2013 instead. So just as with the Spanish and Italians before them, the Dutch are set to miss their targets. They have already been punished with credit wa...


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