Stodgy Netherlands is nation that'll blow up euro - Matthew Lynn

Now that has crashed spectacularly. House prices are falling as fast as they did in Florida when the American housing boom turned sour. Prices are now 16.6% lower than they were at the peak of the bubble in 2008. The National Association of Estate Agents predicts another 7% drop this year. Unless you bought your home back in the last century, it will now be worth less than you paid for it -- and even worse, probably less than you borrowed on it as well.

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Up until now, the Netherlands has been Germany's key ally in imposing austerity across the continent as the answer to the currency's problems. But as the slump worsens, Dutch support for an endless diet of cuts and recession -- and perhaps the euro itself -- will start to evaporate.