Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Dutch Seek Possibility of Expelling Euro Nations, Rutte Says

Nov. 15 (Bloomberg) -- Dutch Prime Minister Mark Rutte called for the possibility of euro members to be expelled from the currency group.

“We would like countries to be able to be pushed out of the euro zone,” Rutte said at a news conference in London today, adding that this would be a last resort.

Rutte said the Netherlands would support a more powerful European commissioner to monitor the euro area, with sanctions including restricting voting rights. He spoke a day after German Chancellor Angela Merkel’s Christian Democratic Union party voted to allow euro states to quit the currency area, endorsing the prospect of a move not permitted under euro rules.

“We have to put out the fire” of the sovereign debt crisis, Rutte said. “That means fiscal consolidation in Italy and Greece. At the same time prevent another fire from happening.”

Rutte raised the possibility of expulsions from the euro area in an article he wrote with Finance Minister Jan Kees de Jager for the Financial Times two months ago.

“Whoever wants to be part of the euro zone must adhere to the agreements and cannot systematically ignore the rules,” they wrote. “In the future, the ultimate sanction can be to force countries to leave the euro. That will require a treaty amendment and is therefore a measure for the longer term.”

To contact the reporter on this story: Robert Hutton in London at rhutton1@bloomberg.net

To contact the editor responsible for this story: Eddie Buckle at ebuckle@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.