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Netherlands on Edge of Economic Crisis; Unemployment Surges as Home Prices Collapse

restoreliberty Wrote: Apr 22, 2013 11:37 AM
It isn't a matter of hoping for a breakup of the Eurozone, it is dealing with the fact that it will self-implode and that day has now arrived. It was a faulty premise, built on a faulty economic base, and was essentially structured to give the largest European countries an advantage over their smaller neighboring states. The whole premise of socialist thinking is there have to be those to "pity" so that those with power can elevate their ego overs the peasant class. And the failures of that mental mindset are becoming more and more apparent around the globe.

Netherlands is underwater in more ways than one. Der Spiegel reports Underwater: The Netherlands Falls Prey to Economic Crisis:

More than a decade ago, the Dutch central bank recognized the dangers of [the housing] euphoria, but its warnings went unheeded. Only last year did the new government, under conservative-liberal Prime Minister Mark Rutte, amend the generous tax loopholes, which gradually began to expire in January. But now it's almost too late. No nation in the euro zone is as deeply in debt as the Netherlands, where banks have a total of about €650 billion in mortgage loans...