BELGIUM: Things Are Getting Worse By The Minute

[FarCenter]

Today, Belgium has been without a government with full authority for more than 527 days. Things are getting worse by the minute:

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Belgium's interim government (which does not have full authority) finally realizes that the price paid to the French for the Belgian part of Dexia is way too high (4 billion EUR) and, worse, that the guarantees provided by the Belgian tax payer are unrealizable (almost 55 billion EUR). Therefore, they are looking to re-negotiate parts of the deal with France. Why the French would be willing to accept other terms (and risk their AAA-rating) is a mystery for me;

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Elio Di Rupo (Parti Socialiste) - who was trying to form a new government - offered his resignation to our King Albert II on Monday (11/21) after criticism from the Liberal party (OpenVLD) and other stakeholders (among others: Belgian entrepreneurs) that the proposed reforms are too much "taxing" and too little "reform". This criticism has many followers in the Flemish part of Belgium, much less in the French part (Wallonia). So, after 527 days, it seems like not that much has happened, apart from endless talks about topics which do not impact the everyday lives of the Belgians;

Read more: http://www.businessinsider.com/belgium-things-are-getting-worse-by-the-minute-2011-11