VVD chairman: 'Kick persistent debtors out of the Euro'

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The chairman of the VVD party has called for Eurozone countries to be expelled from the single currency if they fail to tackle their budget deficits.

Stef Blok told MPs that sanctions, such as withdrawing voting rights and subsidies, should be imposed in the first instance, but “notorious offenders should be shown the exit”.

Blok did not mention any individual country, but his remarks were clearly directed at nations such as Greece which have repeatedly resisted calls to put their finances in order.

Greek bailouts have been a source of tension between the Liberals (VVD), the lead party in the minority coalition government, and the Freedom Party (PVV), whose conditional support is keeping Mark Rutte’s cabinet in power.

As Queen Beatrix officially opened Parliament yesterday, Rutte insisted that supporting Greece was essential and branded parties that wanted Greece thrown out of the Euro, such as the PVV, as “irresponsible”.

His party colleague Blok said in Parliament that expulsion should be a last resort and not used lightly, as there was a risk that it could damage the Dutch economy.

‘The fear of that scenario should not prevent us from introducing strict measures or cause us to keep lending without limit even if no reforms are made.’

Blok said the Netherlands would reduce its budget deficit in order to weather any future financial storm and prevent the need for higher taxes.

The country had survived the first storm, but the cabinet was putting preparations in place for the second phase of the hurricane, he added.

Source: De Volkskrant: Blok: Exit euro voor vaak zondigende eurolanden
Photo by Markusram

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