The Dutch economy will grow by just 1.2% this year as the European debt crisis dampens the recovery, the central bank said on Friday.

And the sustainability of the European and Dutch recovery depends on the ‘decisiveness of European governments’, the central bank said in a statement.
Cutbacks implemented by trade partners will depress foreign demand for Dutch products and in the Netherlands, lower public expenditure and higher taxes will hold back growth in private spending, the bank said.