The Netherlands drawn into EU crisis — may ditch the Euro

The Netherlands has been drawn into the debt crisis in Europe as the government failed to agree on budget cuts, thus casting doubt on its support for the Euro zone

Reuters reports that over the weekend, the government in the Netherlands failed to gain coalition support for its austerity plans. Elections are now planned for September and analysists have said that one of the EU's strongest economies might just bring about the demise of the Euro.

The Netherlands Prime Minister, Mark Rutte strongly advocates the Euro. He has been attempting to get the Dutch Parliament to adopt 14-16 billion Euros worth of austerity cuts in the country. This attempt is aimed at getting the Dutch budget deficit under the 3% of deficit to GDP limit which was established by the new EU fiscal agreement... read full article.