It occurred to me -while idly browsing random toss on Twitter- that Belgium has no government and hasn’t had a government in quite a while.
They seem to be coping.
Unthinkable.
Alas the concern is that business as usual might not be enough. They've a debt/GDP ratio of about 100%, and are getting an increasing bond spread with respect to German bonds. And while cutting spending is the way forward, it is a political decision that they have no one to make...
Obviously if everything money was spent on was self evidently necessary there would be no decision that needed making. And probably no debt crisis.
M.M.Dave suggests that maybe what they need is something like Texas; the state legislature meets in January, in odd-numbered years only.
Just a thought.
(And they have the same dramas we do with the public sector on an entitlement bender, but what can you do? Well, you can sack them all, but this needs someone to do the sacking. Right before setting their charges and leaving the building, obv.)
1 comments:
Belgium has no government!?!1
Quite some understatement in that article you linked to though - "The 261-day impasse — the longest on record worldwide — has caused uncertainty in financial markets. "
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