Netherlands in turmoil after PM quits
Source: Financial Times
Mark Rutte, the Dutch prime minister, tendered his resignation to Queen Beatrix on Monday, throwing the country into political confusion even as it tries to cut its budget to meet strict new European Union deficit limits.
The decision came after far-right politician Geert Wilders ended Mr Rutte’s majority in parliament by withdrawing his support for planned budget cuts to meet the deficit limit.
Analysts are debating whether the Netherlands will be able to cut its budget deficit by €15bn to the 3 per cent of gross domestic product mandated in the European fiscal pact. The European Commission wasted no time in pointing out that the Netherlands had pushed for the strict 3 per cent rule last autumn.
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