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