A bit more X-M international economics and a bit less facile north-south "politics", would be highly appreciated.
The Dutch current account surplus is even bigger than you think:
1. Even apparently small CAB inbalances, surplus/deficits can be unsustainable in a customs/currency union like the Eurozone, where small fragile economies are rammed by their stronger partners and have none of the traditional adjustment mechanisms. The only sustainable intra-Eurzozone CAB position over the long term is something very close to zero.
2. In my experience, the causality between the current and the capital accounts runs the other way: big CAB surpluses lead to big capital outflows, what used to be called "recycling petrodollars". Eventually, these capital outflows turn into loan losses.
3. There are clear winners and losers in the EU/Eurozone experiment, so the Dutch should probably be counting their blessings.