The acute crisis engulfing the Dutch minority coalition of D66, VVD, and CDA stems from D66 and CDA’s November 11 agreement with opposition parties PRO and Volt on a tax amendment shifting roughly €1 billion in burden from labor to wealth via higher box 3 rates on assets and savings. VVD leaders, excluded from the talks, labeled the move a breach of the coalition accord and called for a “fundamental reset,” with the party set to vote against the measure in the imminent parliamentary vote. This clash over fiscal priorities in a government lacking a majority in either chamber has produced open threats of collapse, prompting the prime minister to cancel travel and schedule emergency debate. Traders’ 62.5% implied probability for a 2026 breakup reflects the immediate erosion of trust and procedural deadlock, weighed against the slim remaining window for negotiated continuation before year-end.