Skip to main content

Dutch minister: U.S. sacrificing growth for politics would be 'tragedy'

From Nina dos Santos, CNN
March 1, 2013 -- Updated 2214 GMT (0614 HKT)
STORY HIGHLIGHTS
  • The U.S. is facing $85 billion in spending cuts that will begin to take effect on Friday
  • The cuts are a product of the sequester, a series of automatic cuts to government spending
  • Timmermans says the euro area will gradually move toward more fiscal cohesion

(CNN) -- U.S. politicians must not sacrifice economic growth for the sake of political differences, according to Dutch foreign minister Frans Timmermans.

The world's largest economy is facing $85 billion in spending cuts that will begin to take effect on Friday.

Timmermans told CNN's Nina Dos Santos that Europe is eager to see growth in the U.S. and says it would be a "tragedy" if tribal politics hinders progress on economic expansion.

He added: "I do hope that our colleagues in Congress will be responsible enough to solve that problem."

The cuts are a product of the sequester, a series of automatic, across-the-board cuts to government agencies, totaling $1.2 trillion over 10 years. These would be split 50-50 between defense and domestic discretionary spending.

Timmermans also commented on the outlook for the eurozone.

Speaking in the wake of the Italian elections on Monday, the Dutch minister said he is "fairly confident" that Italy will find a solution to its political problems as it has done in the past.

The elections in Italy -- the eurozone's third-largest economy -- ended in political deadlock this week following a three-way battle between center-left leader Pier Luigi Bersani, former Prime Minister Silvio Berlusconi and comedian Beppe Grillo.

Timmermans believes political stability is needed in the 17-nation eurozone to implement genuine reform following a debt crisis that has plagued the region for over three years.

He says the euro area will gradually move toward more fiscal cohesion while the difference with the 10 European Union nations outside the single currency area should remain "as small as possible."

The UK in particular is trying to renegotiate its relationship with the 27-nation trade bloc and has promised a referendum on EU membership by 2017.

He added: "I think we already have a two or multi-tier Europe in many domains and I think Europe is so diverse that we need different speeds on different subjects. I'm not afraid of that."

CNN's Oliver Joy contributed to this report

ADVERTISEMENT
Part of complete coverage on
November 21, 2014 -- Updated 2319 GMT (0719 HKT)
China and likely other countries have the capacity to shut down the U.S. power grid, says the NSA.
November 21, 2014 -- Updated 0121 GMT (0921 HKT)
If it wasn't for a comic's skit, Bill Cosby would still be America's favorite father, says expert.
November 21, 2014 -- Updated 1550 GMT (2350 HKT)
Obama orders the most sweeping overhaul of U.S. immigration in decades, prioritizing the deportation of "felons, not families."
November 18, 2014 -- Updated 2106 GMT (0506 HKT)
Fighters loyal to ISIS are now in control of Derna, a city on Libya's Mediterranean coast.
November 19, 2014 -- Updated 1945 GMT (0345 HKT)
The founder of a U.S. nonprofit that works with returning soldiers is named CNN's Hero of the Year.
November 17, 2014 -- Updated 1324 GMT (2124 HKT)
It's a very big challenge but NASA chief scientist Ellen Stofan thinks it can be done.
November 17, 2014 -- Updated 0039 GMT (0839 HKT)
CNN's Atika Shubert explains how the most recent ISIS video differs from the other previous hostage execution videos.
November 17, 2014 -- Updated 1738 GMT (0138 HKT)
A Syrian cleric condemns ISIS and its execution of U.S. hostage Peter Kassig.
November 16, 2014 -- Updated 1720 GMT (0120 HKT)
Volunteer fighters in eastern Ukraine dig down just 800 meters from the front line.
November 18, 2014 -- Updated 1729 GMT (0129 HKT)
TV anchor wears the same suit for a year. Female colleague wears new outfit daily. Who gets criticized?
November 21, 2014 -- Updated 1204 GMT (2004 HKT)
Each day, CNN brings you an image capturing a moment to remember, defining the present in our changing world.
Browse through images from CNN teams around the world that you don't always see on news reports.
ADVERTISEMENT