THE GLOBAL FINANCIAL CRISIS AND ITS EFFECTS ON THE NETHERLANDS

With very low unemployment, a large and stable current account surplus, low government debt and a budget in surplus, the Dutch economy was assessed initially to be relatively well prepared to weather the financial and economic crisis. This view was reinforced when the Dutch economy seemed to remain comparatively unscathed by the overseas problems at the start of the crisis. Economic growth in 2007 remained robust at 3½%, which was above the euro area average of 2¾%. In 2008, however, the adverse effects of the financial crisis became more apparent and economic growth came to a grinding halt in... Mehr ...