Dutch central bank president predicts recession over in Netherlands

Dutch banks are doing relatively well and the Dutch economy is getting out of its recession period, Dutch central bank President Klaas Knot said during a press conference in Amsterdam on Monday. "Despite the fact that I don't have the figures, I have the feeling that we are out of the recession," Knot said before the publication of its semi-annual financial stability report. "The world economy is recovering and that has always been an important indication for economic growth in the Netherlands. Additionally, it seems that the drop in house prices have finally come to an end in certain regions of the Netherlands." The Dutch economy has been in recession since mid 2012. Throughout that year, the economy contracted by 0.9 percent, but growth is projected to pick up by the end of 2013. According to Knot the largest risk for this nascent recovery could be the current Dutch political situation. "We should not jeopardize the chance for recovery," he said, referring to the lingering budget negotiations between the Cabinet and the opposition parties.