The Netherlands' labor market is doing fantastically - unemployment continues to fall, just like unemployment benefits, and vacancies are on the rise. But the wages in the country are lagging behind the economic recovery and that must change, Christine Lagarde, director of the International Monetary Fund, said in Luxembourg on Thursday, Metro reports.
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.
Inflation in the Netherlands increased to 0.4 percent in October, the highest level of the past six months, according to Statistics Netherlands on Thursday. In September inflation was still at 0.1 percent.
According to Statistics Netherlands, the increase in inflation can mainly be attributed to higher petrol and diesel prices. In October a liter of gasoline cost 1.52 euros on average, 4 cents more than a year earlier. The price of motor fuels hasn't been this high in over a year, according to the statistics office.
A combination of the Brexit and a further reduction in gas production has lowered the Central Planning Bureau's expectations for the Netherlands' economic growth. The CPB expects that the Dutch economy will grow 1.7 percent this year and 1.6 percent next year. In June the CPB expected 1.8 percent and 2.1 percent growth respectively
The European Central Bank's "abnormal measures" policy of keeping interest rates low and buying up debt is no longer having effect because these measures are now considered normal, the Central Planning Bureau concludes in its annual report on important economic developments and financial risks for the Dutch economy
If the European Central Bank decides to cut interest rates in the eurozone further, negative savings account interest rates are a definite possibility, ABN Amro CEO Gerrit Zalm warned on Thursday
The Netherlands has risen three places to once again sit in fifth place on a list of 140 countries that were part of the annual measure of global competitiveness, according to figures released by The Global Competitiveness Report 2015-2016, conducted by the World Economic Forum.
Former Greek Finance Minister Yanis Varoufakis called Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem not only a liar, but also an "intellectual lightweight" in a recent interview with Spanish newspaper El Pais.
Prime Minister Mark Rutte is not very optimistic about the European Union summit on the Greek debt crisis on Tuesday. During a parliamentary debate on the matter on Monday, the Prime Minister said that he does not want to hear any "rubbish stories" from the Greeks.
Greek Finance mInister Yanis Varoufakis' statements that an agreement between Greece and the other euro countries is in the offing, is "completely untrue", according to to Eurogroup chairman Jeroen Dijsselbloem
The Greek Tourist Board criticized the Dutch travel agent association ANVR after advising tourists headed for Greece to take extra cash with them. The recommendation was made in case Greek banks are no longer able to replenish ATMs, either because of a national bankruptcy or because of a bank run.
Tourists heading to Greece should stop at an ATM before travelling to their destination, in case Greek cash machines go empty. As the country's financial problems mount, visitors to the country should prepare for troubles withdrawing money from ATMs, warns travel agents association ANVR.
Dutch economic performance is moving towards the forefront of the Eurozone, said Finance Minister Jeroen Dijsselbloem in response to positive statements from the central bank (DNB) essentially declaring an end to the economic crisis in the Netherlands. However, high levels of unemployment and outstanding household debt still remain large problems for society and the economy, the minister said in an interview with DFT.
Dutch Finance Minister Jeroen Dijsselbloem has formally put forward his candidacy for a second term as chairman of the Eurogroup, the group of Eurozone finance ministers. Dijsselbloem previously mentioned he would like to remain in his position and visited several European capitals to garner support for his candidacy.
Inflation in May rose to 1.1 percent according to the consumer price index, reports Statistics Netherlands (CBS). Prices in the month were pushed up by increasing holiday and travel expenses, leading to the highest level reached in the last seven months.
The Dutch economy is expected to grow by 1.6 percent and 1.7 percent in 2015 and 2016, respectively, the European Commission revealed on Tuesday. This growth estimate is below the predicted Euro Area and European Union averages and also below the Dutch forecasts presented earlier by ING.
Finance minister Jeroen Dijsselbloem told reporters before the Eurozone finance ministers meeting in Riga that reaching a deal with Greece is unlikely today. When asked about the prospect of reaching a deal soon, he replied “April is not over yet,” reports The Guardian.
The volume of exports in February was 6.6 percent higher than a year earlier, Statistics Netherlands (CBS) revealed this week. The observed increase was smaller than that of January.
Inflation in the Netherlands has risen to 0.4 percent, according to the Consumer Price Index (CPI) measurement, reports the Dutch Central Bureau for Statistics (CBS). After a sharp decline in January, inflation is rising for the second consecutive month. In February, it stood at 0.2 percent.
The key Dutch interest rate dropped with the ECB initiating quantitative easing. The rate on Dutch obligations drops to 0.32 percent from 0.35% as of yesterday.
Eurogroup Chairman and Dutch Finance Minister Jeroen Dijssenbloem has scheduled an emergency meeting of Eurozone finance ministers in Brussels this Friday to decide Greece's application for an extension of their bailout package. Greek Finance Minister Yanis Varoufakis formally made the application in a letter to Dijssenbloem on Wednesday, and moved drastically closer to the strict position of the other EU ministers.
The extra Euro-group meeting about the issue with Greece last night did not achieve anything. Further talks have been pushed back until Monday. In two weeks the Greeks will have no money, and the other 18 Euro Ministers will only agree to help them further if the Greeks accept the conditions attached.
Dutch Prime Minister Mark Rutte said it would be very strange if Greece chose to exit the eurozone, and dropped their policy measures meant to get the country’s finances in shape. Calling the proposition “bizarre,” he refused to speculate on a possible Grexit, saying only, “I assume that is not going to happen.”