The “frugal” countries are often presented as the good pupils of the European class. “When we look at the ranking of countries which are net contributors to European national wealth, we find Germany tied with Denmark, then Austria, Sweden and the Netherlands. These are precisely the ‘frugal’ countries, countries in favor of strict budgetary discipline which have sharply reduced their debt ratios in recent years “, explains Paul-Luc Monnier on the 19/20 set.
The debt of the Netherlands was 67.8% of GDP in 2014 and 48.6% last year. “The state is less indebted, but, on the flip side, households are enormously so: over 102% of GDP. One of the highest figures in Europe. Despite everything, these frugal countries have an interest in concluding an agreement on the European recovery plan. The economy of the Netherlands is very dependent on Europe. Its main customers are Germany, Belgium, France or Italy. In all, 63% of trade Dutch trade is with Europe. The good health of the ‘frugal’ also depends on that of the ‘cicadas’ “, concludes the journalist.
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