The Dutch elections were never expected to produce a single party majority and the Liberal Party ended up as the largest party and looks like forming a centre-right coalition that is more inclined towards fiscal austerity. This would involve, however, teaming up with the controversial Geert Wilders whose Freedom (anti-Muslim)…
The data from the EZ (employment, GDP, retail sales and Purchasing Manager surveys) was not encouraging but, of course, the markets are much more worried about the euro itself. With both Greece and Spain having substantial refinancing looming, some foolish political manoeuvring in Hungary was enough to start new hares…
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