Mark your calendars for Dutch election on 15th March

Mark your calendars for 15th of March 2017, when the people of Netherlands go to polls and the outcome could be another perfect storm for the euro, as well as the European Union. According to the polls, Geert Wilders, the leader of the Party of Freedom (PVV) is set to win most of the seats. However, for a long time in the recent history of Netherlands, no single party has been able to reach the majority. Between 2002 and 2012, every cabinet has resigned before completion of their full four-year term and five elections have been held since 2002. Only the last election, which was held in 2012, was able to deliver a period of stability. That is likely to change this year.

In the last election, People's Party for Freedom and Democracy (VVD) gained most of the seats but their 40 seats were far short of the 76 required for a majority but the incumbent Prime Minister Mark Rutte was able to form a lasting coalition. But this year, Geert Wilders is expected to win as much as 35 seats or more, while Mark Rutte’s party will be pushed to the second position.

Mr. Wilders has promised a referendum on the Dutch membership of the Eurozone as well as the European Union. He also promised to cut back on immigration. However, due to his extreme view towards the euro, immigration, as well as Muslims arriving in the country since 2015, it is not clear, which party might actually form a coalition with him.