Why is the Dutch economy finding it so much more difficult to recover from the financial and economic crisis than its neighbours? It is because the Netherlands much more than neighbouring countries is affected by the negative interaction between the housing market, the banking sector, and the pensions system. This exploratory survey attempts to clarify these macro-economic interactions. One important conclusion is that these problems are typically Made in Holland and will therefore need to be tackled with our own Dutch Design. SERs exploratory survey Dutch economy in calmer waters: A macro-economic exploratory survey is has been presented by to the Ministers of General Affairs, Economic Affairs, Finance, Social Affairs and Employment, and Housing and the Central Government Sector.