There is a lot of fuss about the Netherlands blocking aid to Italy. To prevent any misunderstanding (especially by my non Dutch readers), I’ve written this small explanation. And I’ll be using the words “sneaky bastard”. 😀
After the banking crisis in 2008 the Dutch national debt grew to 68% of our GDP, well past the maximum of 60% required by the EU. As a result we started to reduce expenses, and in 2019 our debt was below 50%.
In the same period Italy’s debt grew as well, but they never reduced their expenses. So it kept on growing to 138% in 2019. They were addressed on this by the member states of the EU, but the populist government gave the EU the big finger.Continue reading “Corona: Netherlands vs Italy”