Netherlands loses triple-A rating

Netherlands loses triple-A rating

Standard & Poor’s has stripped the Netherlands of its triple-A credit rating, saying that the country’s growth prospects have deteriorated and it is not performing as well as peers.

After the credit agency’s move today to downgrade the country to AA+, the only eurozone countries with AAA ratings from S&P are Germany, Finland and Luxembourg.

The Netherlands’ finance minister, Jeroen Dijsselbloem, said the downgrade was unsurprising “but disappointing”.

Mr Dijsselbloem, who is also president of the Eurogroup of finance ministers, has prescribed spending cuts and tax hikes to strengthen Dutch and other European government finances and pave the way for long-term growth.

Some economists say such austerity measures are counterproductive during a downturn, but the idea is popular in German-led policy-making circles.

More in this Section

Wetherspoons boss Tim Martin hits out at corporate governance rulesWetherspoons boss Tim Martin hits out at corporate governance rules

DCC shares fall 6% on profit declineDCC shares fall 6% on profit decline

Regulator: Banks still failing customersRegulator: Banks still failing customers

Sterling inches lower as Tory vote boost fadesSterling inches lower as Tory vote boost fades


Lifestyle

The Cosmetify Index reveals the cosmetics companies that are generating the most buzz online – and Dubai-based Huda Kattan has the top spot.Huda Beauty tops the 10 ‘most popular’ beauty brands this year

Read the script of Kya deLongchamps’ kitchen-sink drama to set the scene to make an informed choice when selecting this home essentialTake the plunge: Read this checklist before you splash out on your new kitchen sink

SOMETIMES, the journey is more important than the destination. And sometimes, we just want to sit at home eating a bag of jelly beans, while thinking about more jelly beans. Life is only as significant or special as we make it.GameTech: Death Stranding is a divisive, beautiful journey packaged in a cool world

Former Oasis drummer Tony McCarroll tells Richard Purden about the mad times when five Manc-Irish lads became one of the biggest rock bands in the worldNot looking back in anger: Former Oasis drummer looks back at the mad times of one of the biggest rock bands in the world

More From The Irish Examiner