A Financial History of the Netherlands

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Take a look at what a finance career in the Netherlands has to offer and contact us for a chat to discuss your options. Robert Walters specialises in the recruitment of highly educated finance professionals for companies across the Netherlands. Our clients range from small businesses to Fortune companies. Work life balance is very important in the Netherlands.

A lot of companies these days are very proactive toward flexible working, which means working from home for one or more days per week or renegotiating contracts about working hours if you or your partner is expecting. Read more about working hours in the Netherlands. A good work life balance leaves time for sports.

Short history of Netherlands

For every three people in the Netherlands at least one is an active member of a sports club. Health and sports are very important in the Dutch culture, you can see proof of it by how many people are riding their bikes everyday to work. Dutch nature is beautiful, and always just around the corner. Contrary to what you might have heard, The Netherlands is not flat everywhere.

You can find pretty little towns scattered around the country, mixed with scenic views of green fields with cows and canals. Three of the country's major cities are Amsterdam, Rotterdam and Eindhoven. We have offices in each of these cities. They offer many job opportunities, and an international scene that makes it easy to fit in. Amsterdam is the most cosmopolitan of the three, being the capital. The city is known for its narrow streets and canal houses. Rotterdam has the biggest port of Europe and is a very modern city.

History - De Nederlandsche Bank

Eindhoven is situated more into the countryside. The nickname of this city is Brainport, as it is home to a lot of tech companies. It offers a more family-oriented environment but as it is a university city still has an attractive night life. Now, let's have a look at the United States at the end of the 19th century. We can see a depression, deflation and a shortage of money.

And there is a serious debate as to the use of gold or silver as a standard to base the currency on. This discussion even filters down to a book, the Wizard of Oz, as Hugh Rockoff explains here. In short, the US experience is that you have to be careful not to have a shortage of money. As both memories linger on in the collective minds, we can thus see that the German central banking approach is not to ever encounter high inflation again.

They tend to be on the careful side and tried their utmost to instill this sense of discpline in the European Central Bank. Meanwhile, the FED is making sure not to ever encounter a shortage of money again, so are expanding their money base more easily. Delayed tapering: a historic moment? When the FED yesterday announced that they were not yet going to contract the money base, this came as a surprise to the market.

Earlier this year, Bernanke had explained that the FED would slowly start contracting the money supply.

Agriculture

So he caught the market off guard. And in a few years, we can determine if that was indeed a historic moment. I think it was. The FED-announcement above all marked the beginning of an unclear policy. So far the FED has been careful to explain and predict its own moves to the market by providing so-called forward guidance.

While a bit unconventional, the market has been getting used to this guidance and has also responded to the earlier announcement of more restrictive monetary policy. This response may in turn have led the FED to change its previous opinion on the timing of tapering. What may happen now is that the market and the FED get entangled in a dance where neither party knows whether to lead or to follow. Both are looking at each other while trying to find out if the economy itself is getting in a better or worse shape, as a result of their dancing.

Rather than leading the dance, based on the music, the FED is now adapting to the dance partner as well. It's this ambiguity of the FED and increased unpredicatbility that may well make yesterdays announcement a historic one. Labels: financial history , lessons , regulation , reserve banking. Morality and Money. In a similar way it is impossible in todays Dutch society to cheerfully announce anything on the topic of bonuses, without ending up in a moralistic debate. But the link between morality and money is far deeper than that.

On the evening of the 12th of April, the Beurs van Berlage in Amsterdam becomes the venue of the so called Philosophy Night. He argues that economic discussions are so intertwined with culture, art, philosophy etc that discussions on economics boil down to questions of good and evil. Jules Evans, author of the book Filosophy for Life, will be discussing how the Stoic way of thinking may be helpful in liberating ourselves from the chains of commerce and the addiction to money, power and status. And finally Donna Dickenson will be interviewed on the subject of selling body parts for money.

What are the practices, how far can this go, should there be a limit? The fact that these subjects are discussed in the Berlage Exchange Building is quite symbolic by the way. It's designer, Berlage, has chosen to translate his and Albert Verweijs view on the future development of society into the artwork of the building. So even the building is engaged in the debate of that night.


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Ships on the sea advance, trains over land to varying ends as they go they call'. See for more info the English Page of Philosophy Magazine here. Labels: Berlage , money , morality , philosophy. And while it could be expected that bits and pieces of this process would slowly enter the public domain, I must say this is a very rapid disclosure. It also allows a further reflection on the very recent financial history: the nationalisation of SNS Reaal Group.

Economic history of the Netherlands (1500–1815)

Meanwhile the regulators' view is also quite clear. DNB, the central bank and supervisor, has been very patient and lenient in allowing the search for possible private-public solutions. But at some point they have to draw the line. Perhaps they hoped that this would force a momentum for the CVC-rescue. Instead, this statement may have finally convinced the Ministry of Finance and DNB that a nationalisation was indeed the only option.

IMF EXTERNAL RELATIONS DEPARTMENT

The proposed deal of CVC did indeed, as our Minister of Finance explained during a press conference, contain too many goodies for CVC with too little compensation for the State. Furthermore, as I was expecting, CVC was asking for something impossible: the committment of the supervisor not to intervene in the coming years.

In sum, the private-public rescue action was nowhere near to a solution that suited both the business and the regulatory constraints. It's interesting to note that at the end of , the supervisor observes that SNS Reaal Group is undercapitalized and unable to really wheather a further storm in the market or the media. From that moment on, all work is geared towards eliminating the risks in the portfolio and getting SNS Reaal to take all necessary action, including the sale of parts of the company. I think also marks the start of a period in which both DNB as a supervisor and the Ministry of Finance become aware of the fact that some form of rescue may be necessary.

But it's a different rescue this time.

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