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Wednesday 30 July  

Dutch ‘could block eurobonds’

Published on 23 May 2012 - 10:52pm
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The Netherlands could block the introduction of ‘eurobonds’, says caretaker Dutch Prime Minister Mark Rutte.

Countries including France are pushing for the introduction of bonds issued by the Eurozone as a whole. “We see nothing in eurobonds and they wouldn’t lead to growth,” was Mr Rutte’s response to developments on his arrival in Brussels on Wednesday.

He is attending an informal dinner with the leaders of the 27 European Union member states, at which economic growth will be the focus of talks. He believes eurobonds aren’t the answer to Europe’s problems and that their introduction would mean higher interest on Dutch borrowing.

He thinks Europe has to stimulate growth without increasing budget deficits. “You get growth not by allowing deficits to rise, but by improving the internal market,” he insisted.

He rejected the criticism that Europe was taking too long to deal with the crisis, pointing out that countries such as Ireland and Portugal had been staring into the abyss two years ago and that “we’ve now left that behind”. Italy and Spain had also implemented difficult measures.

He did warn that more measures would have to be introduced. He went on to say that there are safety nets in the form of emergency funds “which are necessary to shore up the currency which is so important for you and me”.

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