DUTCH RECESSION NOW OFFICIAL

Friday the thirteenth brought gloomy news about the Dutch economy. New figures from national statistics office CBS confirm that the economy has been officially in recession since the second quarter of 2008, and is in worse shape than previously thought.

Previously, CBS forecast positive growth in the first quarter of 2009 to be followed by zero growth in the second and third quarters. But the contraction that started in April resulted in negative growth of 0.1, 0.3 and 0.9 percent in the second, third and fourth quarter respectively, according to the statistics office. Three quarters of economic decline in a row and the end is not in sight. read more (nrc.nl)

CABINET FACES €20BN SHORTFALL read more (dutchnews.nl)
LATER RETIREMENT BACK ON THE AGENDA read more (radionetherlands.nl)
PRESSURE TO SPEED UP RESCUE PLAN read more (nrc.nl)
HIGHER PENSION AGE BACK ON THE TABEL read more (dutchnews.nl)
ANGER AT 'DOUBLE BONUSES' ABNAMRO read more (radionetherlands.nl)
NEW CONTROVERSY OVER BANKERS' BONUSES read more (nrc.nl)
PM PROMISES "UNORTHODOX MEASURES" read more(expatica.com)
UNILEVER REPORTS RISE IN NET PROFIT read more (nrc.nl)
NEW ING CHIEF ZERO SALARY UNTIL 2010 read more (dutchnews.nl)

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February 16, 2009