Dutch government to resign over childcare subsidy scandal – NOS

Dutch Prime Minister Mark Rutte and his government will resign over a childcare subsidy scandal that "drove thousands of families to financial ruin," Reuters reported on Friday, citing Dutch news outlet NOS.

There hasn't yet been an official confirmation of this news at the time of press.

Market reaction

The market mood remains sour following this development. As of writing, the Eurostoxx 50 and Germany's DAX 30 indexes were both down around 0.9% on the day. Meanwhile, the shared currency is struggling to attract investors and the EUR/USD pair is losing 0.3% at 1.2120.