Dutch Cabinet Resigns
by Tyler Durden
As reported first thing this morning when we discussed the perfect storm in Europe, the Dutch government was expected to resign en masse in the aftermath of this weekend’s auterity fiasco. Sure enough, that resignation is now fact.
From the WSJ:
Dutch Prime Minister Mark Rutte and his cabinet have resigned after failing to reach agreement on reducing the country’s budget to meet European guidelines, the Dutch government information service said Monday.
The information service said that Mr. Rutte had met with Queen Beatrix and she had accepted his resignation, asking him to tend to pressing matters of state with a caretaker government for the time being. Mr. Rutte is due to address parliament Tuesday afternoon to discuss interim budget cuts and schedule new elections.