"The time for negotiations is over, " said Jan Kees de Jager, the Dutch finance minister.

WSJ: Icelanders Reject Deal to Repay U.K., Netherlands

Arriving at the meeting of Euro Group finance ministers Monday, Dutch Finance Minister Jan Kees de Jager made it clear his government has much to contribute.

WSJ: Odds Stacked Against Latest EU Pact

Dutch Finance Minister Jan Kees de Jager said he would be consulting Britain about taking further steps against Iceland, but added that the matter would likely end up in court.

BBC: UK and Netherlands to sue Iceland over lost deposits

Speaking after a cabinet meeting on Monday morning involving Mr Rutte's liberal VVD and the Christian Democrats (CDA), Finance Minister Jan Kees de Jager said they would "show the financial market and Dutch people that we can also put forward a solid financial policy".

BBC: Dutch government falls in budget crisis