2012-10-12theautomaticearth.com

While we're all watching Spain and Greece, their alleged saviors in the rich core of the eurozone are starting to show serious signs of corrosion. This makes all the hollow words and promises coming from the world of troikas and politics sound even emptier than they already did. Not that anyone in Holland or Germany seems to even be prepared to think their economies are in for a big fall; for them, all the bad stuff is temporary, and soon it will all be better. Our proverbial Martian might be tempted to think denial is a river in northern Europe.

To wit: after a slew of reports on the housing situation in Holland earlier this year, by the Dutch government's Central Statistics Bureau, the Dutch Central Bank and the Central Plan Bureau (CPB) - got to love the name -, the real estate sector itself issued a paper today, which, despite the obvious bias, makes everything look worse. Again.



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