FXstreet.com (San Francisco) - Mark Rutte, Netherlands' prime minister, has tendered his government's resignation to Queen Beatrix opening the way for early elections. The queen has rejected to do a statement on this while she has asked government to continue working.

Rutte resigns as budget cut talks with ultra-right PVV and the coalition was down this weekend. Rutte plan faced €14/16 billion cuts. PVV leader Wilders refused to accept austerity demands to bring the budget deficit in line with EU rules.

Netherland 3Y bonds yields has climbed to 180 points.