Dutch nationals in the U.K. considering taking British citizenship in order to avoid complications after the Brexit, must be aware that they will lose their Netherlands passport due to existing limits on dual nationality, Prime Minister Mark Rutte said, according to The Guardian.
While many claim that the Netherlands' strict banker bonus cap is deterring international banks from settling in Amsterdam after the Brexit, the Dutch capital does seem to be popular within another branch in the financial sector - flash traders.
At least five companies involved in this type of stock trade already settled in Amsterdam or are planning to do so soon, according to the Financieele Dagblad on Tuesday. The newspaper calls it "the first success for the lobby that wants to attract financial companies from the City to Amsterdam".
On Tuesday a majority in the Tweede Kamer voted against a proposal to keep the Netherlands' strict cap on bankers' bonuses in place. While the parliamentary vote is not binding, it does suggest that if the new government decides to scrap te cap, or make the rules around it more lenient, the decision will be met with approval.
Should the Netherlands decide to stick to its low banker's bonus limit, the country could lose out on 17 thousand extra jobs and 1 billion euros in income and corporation tax, says employers' organization VNO-NCW. According to the organization, dozens of small financial institutions and at least three major international banks would move from London to the Netherlands after the Brexit, if the bonus limit was not an obstacle, NU.nl reports.
Exactly which financial institutions are involved, the VNO-NCW did not say.
There was no confusion about the Netherlands stance at the start of the talks about Britain's departure from the European Union in Brussels on Thursday. "I hate the Brexit from all angles", Dutch Prime Minister Mark Rutte said as he arrived at the summit, according to ANP. "You are one of our most beloved partners. But the Brexit is a decision of the British people and you can't argue wit democracy."
The Dutch economy will grow by 2.5 percent this year - the highest growth in a decade, Dutch central bank DNB expects. The economy is doing better in all aspects, but wages are still lagging behind, the bank said in its latest estimate on Monday, NOS reports.
DNB's expectations are rosier than the central planning office CPB's estimates in March. The CPB then predicted economic growth of 2.1 percent. The office is releasing its latest estimates on Wednesday. The Dutch government uses CPB estimates to make its policy.
The official outcome of the election in the United Kingdom on Thursday is still unknown. But it is certain that Prime Minister Theresa May's Conservative Party will lose its absolute majority. While anti-Brexit Jeremy Corbyn's Labour party gained ground. What consequences this will hold for the Brexit is unclear. We'll have to wait and see, is what Dutch Prime Minister Mark Rutte has to say on the matter.
Many banks and financial institutions moving to Europe after the Brexit, are shunning Amsterdam due to the Netherlands' cap on bonuses. While the rest of the European Union capped bonuses at 100 percent of the fixed salary, the Netherlands' cap is 20 percent of the fixed salary. The banks fear losing talent to the competition, being forced to pay irresponsibly high salaries to keep employees and do not feel welcome in the Netherlands, Financieele Dagblad reports after talking to a number of companies assisting banks in their move to the EU mainland.
There is a "very distinct possibility" that Ryanair will have to suspend flights from the United Kingdom for "weeks or months" if the UK and European Union can't make a bilateral international aviation deal well ahead of the Brexit taking effect, Ryanair CEO Neil Sorahan told the Guardian.
The Dutch advisory council for international affairs AIV expects that a trade agreement with the United Kingdom will not be possible within the first two years of the Brexit. In a recommendation to the yet-to-be-formed new Dutch government, the council advocates for a transitional period after the UK's official departure from the European Union, ANP reports.
"The Netherlands, after Brexit, after the American elections, said 'whoa' to the wrong kind of populism", Prime Minster Mark Rutte said on Wednesday night, after his VVD won the Dutch election for the third time in a row, NU.nl reports
As the results now stand, with 94 percent of the votes counted, the VVD is the largest party in the Netherlands with 33 seats, 7 less than after the 2012 elections.
The parliamentary election in the Netherlands on Wednesday had the interest of journalists and media sources from around the world. The main question on everyone's mind was whether, after the Brexit and after Donald Trump, the populism trend would spread to the European continent. With Mark Rutte and his VVD winning the election, most foreign media sources are focused on Geert Wilders and his PPV's loss.
An increasing number of companies from the United Kingdom are considering making a move to the Netherlands. The main reason for them to move across the Channel is the fact that the Brexit will likely mean more difficult trading with the European Union from within Britain, NRC reports
The fact that British Prime Minister Theresa May announced last year that in addition to the EU, the Brits also want to leave the European internal market, reinforced many companies' determination to move across the Channel, according to the newspaper.
If the European Union falls apart, the Netherlands would face severe consequences, according to Rabobank. The Dutch economy will shrink by 10 to 15 percent, unemployment will double and welfare will remain structurally lower than when the Netherlands was part of the internal market. Should the EU stay together, but the Netherlands decides to step out, the consequences would be even more disastrous, the bank predicts, RTL Nieuws reports.
While the worst of the credit crisis is now definitely a thing of the past, the future of the euro remains a major concern, the directors of ING Bank said while presenting the bank's annual figures on Thursday, ANP reports.
Dutch central bank DNB expects the Dutch economy to grow by 2.3 percent this year, according to an estimate the bank published on Monday. This is a much higher growth than the 1.9 percent growth expected in the bank's previous estimate published in June last year, ANP reports.
For next year DNB expects economic growth of 1.7 percent, lower than the 2 percent growth expected in the previous estimate. In 2015 and 2016 the Dutch economy grew by 2 and 2.1 percent respectively.
While Britain's departure from the European Union is yet to be set in motion, the Brexit is already costing Dutch companies money, according to the interest group for Dutch exporters Evofenedex. The uncertainty about the future trade relationship between the United Kingdom and the European Union already resulted in dozens of deals falling through, the group said to NOS.
Financial institutions who want to move their headquarters from London to Amsterdam due to the Brexit, do not have to worry about the strict Dutch bonus legislation, Minister Jeroen Dijsselbloem of Finance said to RTL Z on Wednesday.
Amsterdam is in talks with numerous financial firms currently based in London about relocating to the Netherlands due to Britain's decision to leave the European Union, deputy mayor Kasja Ollongren confirmed, according to The Guardian. "They [financial institutions] are all preparing themselves. They don't know exactly what they have to prepare for because the situation is unclear and it will take some time until it is more clear. Financials and others are looking at possibilities and very often Amsterdam is on the shortlist", Ollongren said, according to the newspaper.
According to Dutch Prime Minister Mark Rutte, the British had a clear choice when voting on whether or not Britain should leave the European Union. And when voting for the Brexit, they chose to become poorer in exchange for controlling immigration, he said to CNBC at the World Economic Forum in Davos on Thursday.
Last year was a good year for real estate in the Netherlands. In 2016 investors spent a massive 13.15 billion euros on Dutch real estate, breaking the 13.15 billion euros record set in 2007, on the eve of the global property bubble burst, Financieele Dagblad reports based on figures from real estate advisor CBRE.
According to the newspaper, the record year can be attributed to a combination of an abundance of capital, a lack of alternative investments, the exceptionally low interest rates and a strong economic recovery.
According to PvdA leader Lodewijk Asscher, the free movement of workers in the European Union - one of the EU's core values - has become a "business model for lwo wages". He calls on his European colleagues to put a stop to his by limiting labor migration in the EU, the Volkskrant reports.
Van Dale announced the top ten contenders for Word of the Year 2016, new words that emerged during the course of the year. This year's new words indicate that United States president-elect, the Brexit and Pokemon were on Dutch people's minds.