On Thursday, CBS reported that 4983 businesses and establishments confirmed bankruptcy in the Netherlands during the first half of 2013, according to the Dutch national statistics office.
The Dutch government has requested the assistance of investors. According to De Volkskrant, the government has asked pension funds, insurers, and banks in assisting the stagnant economy to start again.
The government is looking, according to Prime Minister Mark Rutte, ‘constantly for the opportunity to get extra oxygen into the economy’. Rutte said this Wednesday during the parliamentary debate on the 6 billion euro in cuts, that the government is still searching for.
Netherlands’ economy dropped more than the initial estimate in the first quarter, according to Bloomberg Business Week.
According to latimes.com, the Netherlands has the highest household debt levels in the Eurozone. Many Dutch bought homes as property values rose in the 1990’sand 2000’s. Their U.S. approach in tax breaks and enthusiasm of banks persuaded borrowers to get huge mortgages.
With an economy that is shrinking even more than expected the Netherlands is doing worse than 21 other countries of the European Union. Only the economies of Cyprus, Greece, Spain, Italy and Portugal are shrinking more than the Netherlands. The economies of 17 other countries are growing.