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.
The Netherlands attracts many foreign investors. However, those companies pay only little tax because just a small part of their ‘investments’ end up in the real economy.
The store chain HEMA had a net profit of 6.4 million euro in 2012, while in 2011 it had a net profit of 11.4 million. The turnover increased by 0.3 percent to 1.153 billion euro. This was reported on Wednesday.
HEMA has had to deal with a worsening economy, a decrease in consumer confidence and the VAT increase, which put pressure on the margins. In light of the circumstances, chairman Ronald van Zetten thinks HEMA has done well.
The Dutch economy shrank faster in the last quarter of 2012 than previously thought. This follows from the second estimate of the CBS, which was distributed on Thursday. According to the estimate, the economy shrank by 0.4 percent. The first estimate in mid-February, on the other hand, showed a shrinking of 0.2 percent.
The shrinkage was 1.2 percent compared to a year earlier. In the first estimate, this was still at 0.9 percent. Consumer expenditure was lower and authorities spent less money than expected.