(see here for link)
The Netherlands, Berlin's most important ally in pushing for greater budgetary discipline in Europe, has fallen into an economic crisis itself. The once exemplary economy is suffering from huge debts and a burst real estate bubble, which has stalled growth and endangered job
The article does a good job in explaining in very clear language the feedback loop that leads to recession when the financial economy is broken. The United States took this path in 2008-2009 and has since been recovering.
I would have thought after what happened in the States every government would have double checked through their banks to make sure there weren't any potential real estate bubbles that could happen with their country in the future. Even one that was as sound as the Netherlands at the time.
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