Netherlands

The Netherlands is a Western European country with territories in the Caribbean. It neighbors Germany, Belgium, and to its northwest is the North Sea. The Netherlands in Europe has twelve provinces and is the largest among the four countries of the Kingdom of the Netherlands. The Netherlands territories in the Caribbean consists of three municipalities.

The country is recognized for its stable industrial connections along with its manageable inflation and moderate employment, a substantial surplus, and for being the European transportation hub. Its economy relies primarily on food processing, petroleum, chemicals, and electrical machinery. The Netherlands has also been one of the most important leading nations in Europe for attracting direct investment.

The nation’s consistent growth was disrupted by the global recession, slacking down its exports by 25%. Its financial industry was also affected by the high exposure of Dutch banks to US mortgage-backed bonds. In its attempt to stabilize the crisis in financial markets, the Netherlands nationalized two banks and invested in a third bank to control possible systemic risks. Additionally, it made great efforts to improve its economy through accelerated infrastructure projects.

Prior to shifting to the euro in 2002, the Netherlands guilder had been the country’s currency since the 17th century while the Netherlands Antillean guilder is the legal tender in the Kingdom of the Netherlands constituents in the Caribbean.

In 1814, guilder banknotes in 10, 20, 25, 50, 100, and 1,000 denominations were released by the Dutch Bank. In 1911, the Netherlands Bank issued banknotes in denominations of 10, 25, 40, 60, 100, 200, 300, and 1,000 guilders. In 1914, the bank issued silver certificates or zilverbonnen to address silver coinage. These banknotes were in 1, 2 ½, and 5 guilders.

In 1970s, guilder banknotes featured significant personalities such as poet Joost van den Vondel, painter Frans Hals, composer Jan Pietersz Sweelinck, admiral Michiel de Ruyter, and philosopher Baruch de Spinoza. Its 1980 issues feature a sunflower, a lighthouse, and a snipe. Later on, these paper bills were replaced with notes showcasing abstract patterns designed by Jaap Drupsteen. 

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