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

rgarrett24 Wrote: Apr 22, 2013 9:50 AM
They're addressing the problem. At the end of the month the Dutch change monarchs with the first crowning of a king since 1890 (the new king's great-great-grandfather).

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...