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Dutch prime minister Mark Rutte's government has approved the country's contribution to Ireland's bailout.
Dutch prime minister Mark Rutte's government has approved the country's contribution to Ireland's bailout.
Image: AP Photo/Thierry Charlier

Dutch government votes to support Irish bailout

Parliament voted to contribute to Ireland’s financial assistance package.
Dec 4th 2010, 3:36 PM 254 0

THE NETHERLANDS HAS VOTED TO support the Dutch part of Ireland’s bailout package, according to Volkskrant.

The Party for Freedom had been unsure it would support the motion to endorse the EU deal, which sees Ireland receive €2.7bn from the Dutch budget.

The motion was passed by a majority in the House of Representatives.

The Dutch Labour party supported the deal on the condition that if Ireland cannot repay the loans, then the Dutch cabinet would do its best to ensure that lower and middle income earners in the Netherlands would not be affected.

Labour party member Ronald Plasterk said the assistance to Ireland was necessary in order to prevent harm to Dutch economic growth and to ease market concerns over the eurozone.

Yesterday, ECB President Jean-Claude Trichet said the bank was prepared to use its bond purchasing programme to support weak eurozone countries, according to the Wall Street Journal. Bond traders had speculated on Thursday that the ECB was stepping in to buy secondhand bonds for countries including Ireland, Portugal, Spain and Italy.

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