Netherlands politician calls for 'Nexit' referendum in 2016

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The latest Eurostat report on the expected duration of working life in the bloc, revealed that the average duration of working life for 15-year olds in the European Union is now 35.7 years. But the data showed a big disparity between member states with Italy counting for the shortest duration (31.2 years) and northern states like Sweden, the Netherlands and Denmark respectively reaching 42, 41 and 40 years of labour.

The statistics infuriated Nexit Denktank campaigners who repeatedly lament Dutch taxpayers’ money spent merely to keep the EU afloat.

They blasted: “On average, the Dutch/Swedes work the most in the EU. There is nothing wrong with that, as long as we do it for our own country.

“In the EU we work and pay taxes for Southern Europe.

“What the Netherlands needs are trade agreements, not an EU in which we finance other countries.

“These regular wealth transfers called ‘solidarity’, through which we transfer hundreds of billions to Southern Europe, are only meant to keep the EU alive.

“This is not in the interest of the Netherlands, even if Rutte is lying (work/export).”

The EU report comes after a new survey issued by Credit Suisse revealed almost half of the Dutch population has a net worth of about 8,000 euros.

The findings also sparked fury among those who are urging Dutch Prime Minister Mark Rutte to follow the UK out of the bloc.

Campaigners lashed out: “According to a survey by Credit Suisse, 45.1 percent of the Dutch have a net worth of less than about 8,000 euros.

“That does not stop the Dutch government from spending our tax money to realise the EU project and to finance other countries.

“Nexit!”

The European Union raised 20 billion euros from a 10-year bond last week in the largest-ever single-tranche institutional debt sale that saw near-record demand of 142 billion euros, taking a big step towards establishing itself as a major debt issuer.

The bond rallied sharply in the secondary market, further evidence of strong demand, with its yield – 0.086 percent at pricing – down 5 basis points to around 0.04 percent on Wednesday.

The rally was similar to that following the EU’s first issuance last October backing the SURE unemployment scheme, a smaller support programme.

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With demand far above the deal size, much investor appetite was left unsatisfied, bankers involved with the deal said.

It attracted such large demand at issuance even though the EU capped orders it considered from hedge funds, which, inflating their demand to secure better allocations, have been a major driver of large bond sale order books.

The Credit Swiss report comes in spite of positive predictions made by the Dutch Government over its economic growth.

Government policy adviser CPB said on Tuesday that the Dutch economy is expected to recover much faster from its coronavirus slump than expected, as the rollout of vaccinations lets businesses reopen.

The eurozone’s fifth-largest economy is set to grow 3.2 percent this year, the CPB said, following last year’s contraction of 3.7 percent, as consumers up their spending while unemployment remains low.

They said: “Permanent economic damage due to the coronavirus pandemic remains limited.”

In March the CPB predicted 2021 growth of only 2.2 percent, as the country was still largely in lockdown due to a massive wave of coronavirus infections.

In recent weeks, however, vaccinations have pushed infections back to their lowest levels in more than nine months, allowing bars, restaurants and stores to reopen.

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