Courtesy of Mish.
Eurozone exit talk first started with “Grexit” (Greece exit). It progressed to “Spexit” (Spain exit), and now talk centers on “Nexit” (Netherlands exit).
Before anyone else claims the names, let me propose “Frexit” and “Fexit” (France exit) as well as “Sexit” a sexy sounding alternative for Spain Exit.
So far the “exit” scorecard remains on zero, but eventual exits are likely. No one can be assured of the timing or catalyst, but eurosceptcism is on the rise in a huge way.
Nexit?
In the Netherlands, opposition leader Geert Wilders outlines case for a Dutch ‘Nexit’ from the EU.
Geert Wilders, leader of the far-right Freedom Party (PVV) that is leading in Dutch polls for May’s European parliament elections, presented a study on Thursday that claims the Netherlands would be better off if it left the EU and he urged voters to support his call for “Nexit”.
The study, by the consultancy Capital Economics, claims the Dutch economy would quickly emerge from its sluggishness to brisk growth, generating billions of euros – or new Dutch guilders – in fresh revenues for debt-laden households.
Mr Wilders is one of a handful of populist leaders in the EU – including Marine Le Pen in France; Nigel Farage in Britain and Alexis Tsipras in Greece – whose sharp anti-Brussels rhetoric has helped push them into either first or second place in public opinion polls ahead of May’s Europe-wide vote.
The Netherlands is one of the founding members of the EU, and has long been seen as a core supporter of a more integrated Europe. Yet public opinion polls reveal growing support across the country for a renegotiation of powers with Brussels over a number of policy areas, including access to domestic welfare for other EU citizens.
Mark Rutte, Dutch prime minister, in June presented a list of 54 competencies that should remain with national governments rather than be given to the EU, a plan many in Brussels have viewed as the Liberal premier’s attempt to fend off the challenge from Mr Wilders.
“Nexit means that we no longer have to pay billions to Brussels and weak southern European countries,” added Mr Wilders. “We can save billions by liberating ourselves from EU regulations. We can end the mass immigration and stop paying welfare checks to, for instance, Romanians and Bulgarians.”
Mark Pragnell, one of the authors of Capital Economics’ report, said the Netherlands would be significantly richer if it left the EU and the single currency, despite a short period of volatility….
