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May 6, 2012

The Liberty Bullhorn

According to the Irish Times we can now add another euro-zone country to the list of troubled economies:

The multibillion-euro package of austerity cuts that brought down the Dutch minority government, which was delivered to Brussels just ahead of deadline on Monday, has been described by the country’s economic planning agency as “too vague to assess”. In an embarrassment for the caretaker coalition ahead of a September 12th general election, both the central planning bureau and economists at the ministry of finance have admitted they cannot say with certainty that the deal can meet the EU budget deficit requirement of 3 per cent of GDP.

In plain English: time to add the Netherlands to the list of debt problems in the euro zone. And that means a welfare state that is defaulting on its promises to the taxpayers who have no choice but to buy those promises from government:


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