Dutch cabinet warns of recession
Dutch Prime Minister Jan Peter Balkenende says it's very likely the country will be hit by a recession.
THE HAGUE - Speaking after the cabinet's weekly meeting, the prime minister said he expected 2009 to be a difficult year.
He warned that the economy might not begin recovering before 2011. Mr Balkenende added that unemployment was on the rise and described the downturn as unprecedented.
After speaking with Dutch captains of industry, he acknowledged there was a sense of urgency among both employers and employees.
[Radio Netherlands / Expatica]