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10/14/13

US Debt Default: US could learn from the Netherlands says EU’s Rehn

Squabbling U.S. politicians could learn from the Netherlands, where the government has just struck a "very significant" budget agreement, Olli Rehn, the vice-president of the European Commission, told CNBC on Monday.

After two weeks of wrangling, the Dutch government struck a deal on Friday that included 6 billion euros ($8.1 billion) in budget cuts in 2014, despite opposition from three political parties, and the lack of a majority in one house of the legislature.

In an exclusive interview with CNBC, Rehn praised the Netherlands' pact as a triumph of "responsibility over brinkmanship" and hinted that the U.S. could do likewise.

Read more: US could learn from the Netherlands: EU’s Rehn

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