The Netherlands is now less creditworthy than Microsoft - by Jason Karaian

Standard and Poor’s stripped the Netherlands of its AAA credit rating today. This ignominy means that the Dutch, now rated merely AA+, are considered less creditworthy than the Germans, on a par instead with the Americans.Although considered part of the euro zone’s sturdy northern “core,” the Dutch economy has performed more like the wobbly southern “periphery” recently, with GDP set to shrink by 1.2% this year, according to S&P. The size of the Dutch economy won’t surpass its 2008 peak until 2017, reckons the ratings agency. Future growth will be weighed down by aggressive government austerity and falling house prices.

S&P also cut France’s rating earlier this month, to a notch below the Netherlands. Economist Holger Sandte of Nordea bank expects a gradual convergence of ratings among euro members, driven by French and Dutch-style downgrades rather than upgrades of lower-rated countries; Germany, Luxembourg and Finland are now the only members of the 17-nation euro zone with the top rating from all three leading credit agencies. S&P upgraded its outlook for Spain today, to “stable” from “negative,” but left its BBB- rating in place.

Not that any of this really matters. For widely held, extensively scrutinized bonds like those issued by the Dutch government, the opinion of one ratings agency doesn’t move markets much; Fitch and Moody’s, the other two big agencies, still give the Netherlands the top grade. Dutch bond spreads barely budged on the downgrade news, and continue to fetch lower yields than fellow AA+ rated America (as does AA rated France, for that matter). 

Read more: The Netherlands is now less creditworthy than Microsoft - Quartz

The Netherlands Privacy Rights: Google breaking data protection law in the Netherlands says Government

broke data protection law in the Netherlands when the ad giant tweaked its privacy policy in March 2012, says the country's privacy watchdog.

\The Dutch Data Protection Authority said on Thursday that Google had breached the country's rules because it had failed to adequately inform all its users in advance about the changes it was making to its service.

"Google spins an invisible web of our personal data, without our consent. And that is forbidden by law", said Dutch DPA chairman Jacob Kohnstamm.

The regulator said it had invited the company to a hearing. It will only decide on any enforcement action after discussions have taken place with Google.

The DPA said that, during its seven-month probe, the watchdog determined that Google burrowed deeply into the personal data of Dutch netizens by knitting together services across the web for the purposes of targeted advertising.

"Some of these data are of a sensitive nature, such as payment information, location data and information on surfing behaviour across multiple websites. Data about search queries, location data and videos watched can be combined, while the different services serve entirely different purposes from the point of view of users," it said.

The watchdog concluded that Google had not sought the consent of users before cutting and shutting its privacy policies together in order to combine personal data across its massive online empire.

Read more: Google in Dutch: Privacy changes BREAK data law, says Netherlands • The Register

Attention Geert Wilders and Marie Le Pen: Eurozone posts euro 13.1-billion September trade surplus

The eurozone posted another big 12-month increase in its trade surplus on Monday, the latest monthly data from the EU's Eurostat agency showed.

The first estimate for September gave a 13.1-billion-euro surplus (US$17.7 billion) for the trade in goods with the rest of the world, compared with 8.6 billion euros in September 2012.

A trade surplus is one of the factors of growth in an economy, whereas a deficit tends to sap growth, and so achieving a trade surplus is of critical importance to economies in crisis.

Read more: Eurozone posts 13.1-billion September trade surplus: EU

The Netherlands: The Netherlands: Health Insurers have also become too big to fail

Health insurers like banks have also become too big to fail '. That says Chris Oomen, CEO of health care provider ' Achmea.  In 2008 it received state bailout funds and today controls one third of that tmarket ',

"Assume Achmea goes down -  there will be no health care provider which is able to accept our insured in the Netherlands, because no one has enough equity to take on our 5 million customers. That requires so much capital, that you will become bankrupt immediately. We have therefore also become  'too big to fail.' says Oomen.

According to Oomen hospitals now also fall in this too big to fail category in the Netherlands.


Almere-Diges

The European Social Model Can And Must Survive The Crisis - Anthony Giddens

What does the Eurozone crisis mean for the future of Europe? In an interview with EUROPP’s Managing Editor Stuart Brown, Anthony Giddens discusses the content of his new book, Turbulent and Mighty Continent: What Future for Europe? He outlines the structural factors underpinning the crisis, the benefits of EU membership, and why maintaining the European social model as a social investment state is of crucial importance for European countries.

"Europe has become a community of fate in another sense, which is that for the first time we have a European public and political space. In every European country, European issues are now covered extensively in the media. I was amazed at the amount of coverage given in the UK to Angela Merkel’s re-election. You would never have found that previously, and that’s recognition that we’re all in this together, even if many in the UK want us to leave the European Union."

"So for me, as a pro-European, the key issue is whether we can make this negative public space more of a positive one. For this reason, I feel that pro-Europeans should state their case and network across Europe in the run up to the 2014 European elections. We should not let the populists and the Eurosceptics dominate the debate politically, or emotionally."

Read more: The European Social Model Can And Must Survive The Crisis - Social Europe Journal

The Netherlands: Ocean Sailing - the Stad Amsterdam: Its all about adventurous sailing

the Stad Amsterdam

Each year, the Clipper Stad Amsterdam makes a number of adventurous sailing trips. In April and December, we sail across the Atlantic, in the summer, the tall ship Stad Amsterdam sails the Mediterranean, the Bay of Biscay and the North Sea to IJmuiden, her port of registry.


 Are you a true sailing enthusiast and would you like to sail along on our ship? Why not enlist? But even if you have little sailing experience and would like to pitch in, you are most welcome. You could even receive sailing training. All options are open on these trips, but there are no obligations.

On Monday April 21st you are welcome to come aboard the Clipper Stad Amsterdam in the  city of Boston (USA), the capital of the state of Massachusetts and unofficially also of New England.

The long non-stop crossing to the Spanish town Malaga will start the next morning.

The true sailing enthusiast will for sure get what he or she is looking for. The dolphins tumbling near the ship’s bow, the beautiful clouds, the colorful rainbows, the sun's rise and fall but also the peace and freedom of the open sea will make you relive the old days. An unique chance to admire the Clipper in all her glory.
We expect to arrive in Malaga three weeks later on the early morning of May 12th.

This sixth largest city of Spain at the Mediterranean Sea and at the Costa del Sol, known for its tourism, is only 100 kilometers away from the Strait of Gibraltar. Surrounded by mountains and crossed by two rivers, this city is also well worth visiting. From the airport, eight kilometers southwest of Malaga, it is most likely that you will leave on a flight home which also means the end of a no doubt unforgettable sailing experience. Of course you can also sail with us for another week to Monaco on the French Riviera.

Read more: About adventurous sailing - Stad Amsterdam

An Eurosceptic Alliance? - Le Pen, Wilders eye eurosceptic alliance for EU elections - will the voter be fooled?

Le Pen and Wilders the Eurosceptic Alliance

Eurosceptics Geert Wilders of the Netherlands and Marine Le Pen of France are discussing closer cooperation in a bid to capitalize on voter frustration with mainstream politics before the 2014 European parliament elections.

Ms Le Pen arrived in the Netherlands on November 13 for further talks with Mr.Wilders . 

But will it work to band Eurosceptic parties from around Europe, including the Netherlands, Britain, France,  Germany, Sweden, Austria and Denmark together?

"Eurosceptism has reached its peak", said a French Euro Parliamentarian." Even though the European voter might initially have been attracted to these Populist political parties, the voters are also not completely stupid.

They have seen during the economic crises and the recent NSA spying drama that only a united Europe can withstand and react as one against the onslaught of negative economic and political forces from outside the EU.".

"What could the Netherlands, which is totally dependent on trading with other EU nations, achieve by going solo", says D66 Party chief  and parliamentarian Alexander Pechtold, "I have asked Mr. Wilders this question many times  but he never comes up with any concrete answers."

Le Pen has sought to rid her party of overt neo-Nazis and racists and has distanced herself from the anti-Semitic remarks of her father. But a string of embarrassing scandals over racism among party members could still make her an unappealing partner for Wilders in the eyes of his Jewish backers and local supporters.

Wilders, who is anti-Islam, has been funded by The Middle East Forum, a pro-Israeli think tank based in Philadelphia, USA: the group also funded Wilders' legal defense in 2010 and 2011 against Dutch charges of inciting racial hatred.

EU-Digest

Recycling and Waste Management: EU recycling industry could create an additional 160,000 jobs by 2020

Recycling could create at least an additional 160.000 jobs in a circular economy say executives at WRAP a British advisory company which works with a wide range of partners, from major UK businesses, trade bodies and local authorities through to individuals looking for practical advice on recyclin.  They are funded by all four governments across the UK and the EU and run programs in England, Scotland, Wales and Northern Ireland.

A circular economy is an alternative to a traditional linear economy (make, use, dispose) in which we keep resources in use for as long as possible, extract the maximum value from them whilst in use, then recover and regenerate products and materials at the end of each service life.

As a practical example of a circular economy - Norway, along with many other northern European countries, has built a network of cogeneration plants that produce heat and electricity from recycled waste.  Referred to as waste-to-energy facilities, the process is relatively simple.  Garbage is burned in a portion of the facility, creating steam, ash and flue gases.  The facility collects the steam and uses it to turn turbines, which generates the electricity used throughout much of the country.  The ash is trucked away to a landfill, while the remaining gases are either filtered and dispersed into the atmosphere, or collected and used for additional products like biofuel.

With a growing recycling infrastructure diverting more European waste from landfills, as well as systems R&D investments from integrated waste handling firms the EU could eventually be turning their waste into gold and jobs.

EU-Digest

Banking - the Netherlands: ING Q3 profit falls following Korean asset sale

ING Groep NV saw its third-quarter profit fall sharply after it booked a loss on the sale of operations in South Korea.

However the company's new chief executive said Wednesday profits on an underlying basis were stable and that the company is close to repaying rescue money it received from the Dutch state in times of crisis in 2008 and 2009.

Jan Hommen, the executive who stepped in after the bailouts to oversee ING's restructuring, retired on Oct. 1. His replacement, Ralph Hamers, said Wednesday that ING is "grateful" for the taxpayer money.

Net profit for the quarter was 101 million euros ($136 million), down from 659 million euros in the same period a year ago. During the quarter, it booked a 950 million euro loss on the sale of its South Korean insurance arm. Underlying profits, which exclude tax and one-time items, were 891 million euros, up 5.6 percent.

ING received 10 billion euros of state aid in 2008. It has been steadily shedding operations and repaying that debt, plus interest, ever since. On Wednesday it repaid 1.13 billion euros, leaving it with a remaining tab of 1.5 billion euros.

Read more: ING Q3 profit falls following Korean asset sale; new CEO says 'thanks' for 2008 state aid (11/6/13 4:07 am)

Soccer: Ajax beat Celtic 1-0 to keep the Dutch team's Champions League campaign alive

Lasse Schoene scored the only goal on Wednesday as Ajax beat Celtic 1-0 to keep the Dutch team's Champions League campaign alive.

Schoene, promoted from midfield to the forward line for the match, rounded off a slick passing move in the 51st minute to secure three points for Frank de Boer's team and end a run of six Champions League matches without a win.

Celtic beat Ajax 2-1 in Glasgow two weeks ago to leave the four-time European champion bottom of Group H with only a single point from three matches and facing elimination from a group that also includes Barcelona and AC Milan.

Barcelona remained top of the group by beating second-placed AC Milan 3-1 on Wednesday. Ajax went third, one point behind Milan.

Ajax dominated possession at the Amsterdam Areana but, as has been the team's problem in recent weeks, it struggled to convert domination into clear-cut chances.

Read more: AMSTERDAM: Lasse Schoene scores as Ajax beats Celtic 1-0 - Soccer | Fútbol - MiamiHerald.com

The Netherlands: New mobile phone alarm system tested today

If you are living in the Netherlands and have a cell phone you have probably heard your phone suddenly give a loud alarm signal. Don't worry.

This was the third test signal by the new Dutch national mobile phone alarm system called NL-Alert.

The system, which works on cell broadcast and is not affected if telephone systems go down, sends messages about catastrophic events, saying where they are and what to do.

This Monday's message once again stated that it was a test message.

"With the test signal people could check-out  if their telephone was properly set to receive the message", said the ministry of Justice.
.
Currently, about half of the mobile phones in the Netherlands are able to receive the emergency messages. From the test results it seems iPhones in particular were still having trouble to receive the signal from NL-Alert, while Android phones seemed to do better. In case you need to get additional information on how to set your phone go to the website www.nl-alert.nl

EU-Digest

The Netherlands: The "Ten Boom Family Home Museum" in Haarlem - by RM

When tourists visit Amsterdam among one of the favorite spots to visit is the Anne Frank Museum.  

Another similar museum, but far less visited than the Anne Frank museum is the Ten Boom family home museum in Haarlem. It was used as a refuge for fugitive Jews and resistance fighters hunted by the Nazis.

 In 1944 the Nazis arrested this courageous Christian family and all 5 were sent to prison (death) camps. Only Corrie ten Boom survived the Ravensbruck concentration camp near Berlin after the war had ended

In the early 1970's Corrie's book "THE HIDING PLACE" became a best seller and an award winning motion picture. Corrie died on her 91st birthday, April 15, 1983. 

In the Jewish tradition to die on your birthday is a special privilege. Personally I was most touched by what Corrie ten Boom wrote about fear and worry while in the concentration camp, "worry does not empty tomorrow of its sorrow; it empties today of its strength".

The "Ten Boom Family Home Museum" certainly is a place to visit when in Holland.

Click here for additional information about the Ten Boom Family Museum  

EU-Digest

Leaving the EU will mean economic disaster for UK or for that matter any other EU member copy-cats - by RM

Whatever your views are about the EU, the first thing that happens when your local political establishment decides through a referendum or other manipulation to get out of the Union, is economic disaster.

In the case of Britain getting out of the EU big companies and financial conglomerates will decamp from London to Frankfurt or Paris. The pound will immediately  fall.. Many of the British exporters have no idea what's going to happen to them, and the banks will not be keen to stick out their neck in their favor.

In general if Britain leaves the EU it would become an economic storm so big it could overshadow anything else the British public would have ever experienced.

In connection with the above, just imagine how any member country which steps out of the EU could handle the NSA spying revelations on European countries and their leaders if they had to do this just by themselves? 

Unfortunately in the case of Britain and the NSA the question which obviously arises and which has not been addressed by the EU Parliament or the Commission is how Britain, a member of the EU, has (is) participating and supporting the NSA spy program on Europeans, without the EU Commission/Parliament or the EU member states having any knowledge of it?

With friends like this who needs any enemies? 

Almere-Digest

Netherlands scores poorly in HSCB survey among Expats as a country they want to work and live in

The Netherlands which claims and is often seen as a great place for foreign companies to establish operations only ranked 18th in the 2013 Expat Explorer Survey  by the HSBC as the best countries for expatriates to live, work and raise your children in. 

If you're sick of your home country and are yearning for a change, you might want to consider settling in Asia for the next chapter of your life.

A new study by HSBC ranks several Asian nations among the best countries for expatriates in 2013. The annual Expat Explorer Survey analyzes the findings from 7,000 expats to rank their new homes according to criteria including economics, experience, and raising children.

When considering all three categories, China comes out on top with high scores in economics and experience. Despite faring poorly in the field of raising children, expats in China report high salaries and better quality of life than in their home countries.

Switzerland tops all nations in terms of economics, though it remains unranked overall due to insufficient data in the raising children category. Hailed as a "beacon of growth," Switzerland instills financial optimism in its new inhabitants, with expats citing strong fiscal policy and healthy markets.

When it comes to experience, however, Thailand outpaces the field, thanks to top scores for healthy diet, working environment, social life, local shops and markets, and local culture. Expats living in Thailand enjoy a high quality of life with little trouble integrating; 76% noted how easy it was to make friends in their new land.

And of course, food plays an important role in satisfying these expats. Like Switzerland, however, Thailand also could not be ranked overall because of its lack of data on raising children.

In that category, Germany reigns supreme, with high scores in child education, quality of childcare, and child health and wellbeing. Expat parents laud German education options as cost-effective while still reporting an improvement in the quality of schooling over those available in their home countries. Deutschland also received high scores in economics, helping the nation to place second overall among all three criteria.

http://www.expatexplorer.hsbc.com/#/countries