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Now, austerity may also claim the scalp of another government in another eurozone nation this evening.

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The Netherlands will be heading to the polls, it seems, sooner than expected

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because today the prime minister, Mark Rutte, and his cabinet resigned after losing the support of a vital coalition ally.

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Over the course of the weekend, the far-right Party for Freedom refused to back spending cuts worth about $20 billion.

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These cuts are needed to trim the Netherlands' runaway budget deficit.

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That budget deficit is expected to top 4.6 percent this year; that's way above the three percent ceiling for EU rules.

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Queen Beatrix of the Netherlands has now asked lawmakers to continue to work in the interest of her kingdom.

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Well, elections for a new government could come as soon as June.

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Jaap Jensen is the political editor for the Dutch current affairs TV show, Pauw and Witteman, and he joins us now live from Amsterdam via Skype.

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Jaap, thanks [for] coming on the show. It's good to have your perspective here.

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First of all, what I will ask you, is austerity that unpopular in the Netherlands or is this just a case of political maneuvering?

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Well, the Netherlands is one of the countries that was very harsh to other countries to say you have to take austerity measures.

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But now, at this moment, we have to take them ourselves, and now we are reluctant.

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And mainly the Freedom Party of Geert Wilders didn't want to cross that bridge at the end of the route.

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So, do people back Geert Wilders? What do you think?

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Well, he says, "I cannot do this for all those pensioners who have to bleed financially. I cannot take it for my responsibility."

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So, on Saturday, he said, "I don't take this anymore," 

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and today, there was only one conclusion possible: for the prime minister to go to the queen and to resign.

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How serious is this? Because we have had this in past going on for several meetings, already. 

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We knew that it was just gonna be very, very difficult for Mark Rutte to get these austerity plans through.

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Is it... is this a surprise for people across the Netherlands at all?

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So, people like you, are you worried that we're now gonna see Holland losing its coveted Triple-A credit rating?

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Yeah, that's a very big problem, and when we lose the Triple-A rating, the rent will get up,

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and then we have to face some 4 or 5 million... billion extra every year.

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We have to cut in the future, so that's no solution.

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And there is a problem also in Parliament,

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because at this very moment, there is no majority to comply with the rules from Brussels to go to the three percent deficit next year already.

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Some other main parties say we can wait a few years.