THE HAGUE, Netherlands (AP) — The Dutch finance minister says he blames Germany and France in large part for Europe's sovereign debt crisis, after they violated rules laid down at the creation of the euro by running larger-than-permitted budget deficits in the early 2000's.
Jan Kees de Jager says that when the two largest countries in the eurozone ran deficits of over 3 percent in 2003 and 2004 without penalty it "opened the flood gates for other countries" to flout debt rules, ultimately leading to the current crisis.
Speaking to the Netherlands’ foreign journalists association Thursday, De Jager also said the Netherlands will continue to support the bailout package agreed for Greece on July 21, despite difficulties in nailing down its terms and the possibility it might not work.
