Dutch contribution to EU emergency fund to almost double

The Netherlands’ contribution to the EU’s emergency fund is to be almost twice as big as first estimated – €50bn instead of €26bn, the Financieele Dagblad reports.

That is the only way to make sure the fund is large enough to support weaker EU countries, finance minister Jan Kees de Jager said in a parliamentary debate on Wednesday.
At the moment, EU countries have guaranteed €440bn, but the actual amount which can be borrowed is €250bn and that needs to be increased.
European leaders will discuss the new guarantees at a summit later this month.


During the debate, prime minister Mark Rutte assured MPs the Netherlands will not hand any control over pensions and wages to Brussels.
France and Germany want to increase economic policy coordination between the 27 member states.
Earlier this year the two countries published a document they called the Competitiveness Pact, which aims to get all EU countries to agree to harmonised taxation and labour policies, increasing the state retirement age to 67.

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