The city of Amsterdam is taking over the debts of its young adults as part of a drive to liberate people who are struggling to get into work or education.
A growth in borrowing among young Dutch adults – a trend echoed elsewhere in Europe, including the UK – is said to be standing in the way of them joining the marketplace or completing higher education courses.
Under the city’s trial project, a municipal credit bank will negotiate with creditors to buy out the debts. Those on the scheme will then be issued with a loan to repay according to their means.