HOLLAND sold debt at two auctions today but a former member of Geert Wilder’s party said that the country’s demands for austerity in Greece have come back to haunt it.
The country sold €2.5bn of sovereign debt – a positive move after Dutch prime minister Mark Rutte handed in his resignation to Queen Beatrix after Government talks broke down over an austerity budget.
Geert Tomlow, a former member of the Dutch right wing PVV party, which brought down the country's government down by refusing to a tough budget, said in an interview:
“Holland has fallen into its own trap.”
He added that while they demanded that countries like Greece met a 3pc budget deficit target, Holland can’t meet the target itself.
Mr Tomlow also suggested it may be necessary to introduce a two, or even three tier euro to cope with the crisis.
Stock markets were calmer after a massive sell-off yesterday on fears of increasing uncertainty in Europe.
The euro also gained in value but markets remain jittery.