September 12 is a day to circle on your calendar. In addition to German constitutional court decision on the constitutionality of the ESM bailout fund, the Dutch go to the polls.
A few weeks ago it looked as though the tiny Socialist party would storm to victory, but that looks less likely now after some poor debate performances by the Socialist leader. Looks as though a coalition will be the likely outcome and PM Rutte has an outside chance of staying in power.
If Rutte stays in power, look for a continuation of austerity. If the Socialists are able to form a government, they want to water down austerity and live with larger deficits, despite EU prohibitions.
