Skip to main content
Home

Main navigation

  • Top stories
  • Health
  • Crime
  • Politics
  • Business
  • Tech
  • Culture
  • Sports
  • Weird
  • 1-1-2
Image
Netherlands and the European Union
The flags of the Netherlands and the European Union - Credit: nastya-mal / DepositPhotos - License: DepositPhotos
Politics
Germany
France
Sweden
Austria
Denmark
Angela Merkel
Emmanuel Macron
European Union
Eurozone
Loans
Covid-19
economic crisis
Saturday, May 23, 2020 - 14:50
Share this:
  • facebook
  • twitter
  • linkedin
  • whatsapp
  • reddit

Netherlands presses counter-proposal to 'generous' EU spending

The Netherlands is spearheading a counterplan to the 500 billion euro recovery proposal laid out by German Chancellor Angela Merkel and French President Emmanuel Macron on Monday. In a newly-drawn proposal on Saturday, the Dutch have asserted that loans, rather than grants and subsidies, should be available to the eurozone economies bearing the brunt of the unfolding economic crisis.

The new proposal was suggested by the Netherlands along with Denmark, Sweden and Austria; a group of countries collectively dubbed the 'Frugal Four'. It insists on a temporary European emergency fund scheme be formed, as well as a modernization of the European budget be adopted, according to public broadcaster NOS.

The counterplan contends that the joint Franco-German proposal, which had proposed a response "united and in solidarity" with other EU nations, is too generous.

The development follows two months of protracted debate around how the EU should crank up its spending in light of the economic calamity brought about by Covid-19. Fiscally conservative nations, such as the Netherlands, are insisting on loans, while a large bloc of European countries stand in favor of grants, subsidies and mutualized debt in the eurozone.

Follow us:

Latest stories

  • Netherlands' budget deficit rises to 3.4 percent
  • Silence circles for Ukraine to be held throughout the Netherlands
  • Spring 2022 is already high on list of sunniest springs ever
  • Much unknown about first Dutch monkeypox cases, experts say
  • 17-year-old girl stabbed after Hilversum robbery; bystanders overpower suspect
  • Most buses in Eindhoven and Venlo are not running due to strike

Top stories

  • Much unknown about first Dutch monkeypox cases, experts say
  • 17-year-old girl stabbed after Hilversum robbery; bystanders overpower suspect
  • Most buses in Eindhoven and Venlo are not running due to strike
  • Dutch deficit rises to 3.4%, leading to some higher taxes; 30 percent expat benefit reduced
  • First monkeypox case definitively found in Netherlands
  • Staff shortages putting more holiday flights at risk

© 2012-2022, NL Times, All rights reserved.

Footer menu

  • Privacy
  • Contact
  • Partner content