Good afternoon!
If you are feeling the pinch more than usual this year – then it's not your imagination. Our top story today in The Brussels Times is a report into savings accounts in Belgium, and the fact that savings accounts with Belgian banks have a much lower interest rate than in most other Eurozone countries, according to new data from the European Central Bank (ECB).
In Belgium, the average interest rate paid by banks on savings deposits stood at 0.89% in March – much lower than in most neighbouring countries: the average rate was 1.4% in the Netherlands, 2.1% in France and even 2.2% in the Grand Duchy of Luxembourg.
Again, this has real-world effects: people often use their savings for holidays, investments for special occasions or buying houses or cars or improving their homes. If people aren't able to do this as much, then it has a knock-on effect on jobs and the wider economy.
Maybe the need for cheaper home improvement options explains why tourists are stealing cobblestones from Bruges! The city is losing up to 70 stones a month in high season, according to the council – who say visitors are taking them as souvenirs. They also say the holes they leave are dangerous for other visitors. What happened to the good old fridge magnet, I ask?
Speaking of pavements, if you fancy going for a walk this weekend, we have a handy guide to some of the best walking tours in Brussels. Just don't take any of the infrastructure of the city home with you!
Belgium in Brief
is a free daily roundup of the top stories to get you through your coffee break conversations. To receive it straight to your inbox every day, sign up below:
1. Belgians earn substantially less on savings than most of Eurozone
In Belgium, the average interest rate paid by banks on savings deposits stood at 0.89% in March – much lower than in most neighbouring countries. Read more.
2. Old dog, new tricks: Lessons from my first 100 days at Brussels news startup
"It was scary yet thrilling move to leave a legacy publication." Read more.
3. Brussels universities build ‘literal bridge’ to overcome language barrier
Despite the Dutch-speaking VUB and Francophone ULB campuses being neighbours, they never really overcame the language divide. Until now. Read more.
4. Get your steps in: Brussels’ most unique walking tours
From crime walks to the best architecture, The Brussels Times has compiled a list of the best strolls throughout the historic city. Read more.
5. Belgium rises to second place for LGBTQ+ rights in Europe
"As Belgium, we can set an example. We want to call on people to make themselves heard, like on Saturday at Pride in Brussels." Read more.
6. NATO chief ‘cautiously optimistic’ about Russia-Ukraine peace talks
"The ball is now clearly in Russia's court." Read more.
7. Tourists increasingly steal cobblestones when visiting Bruges
"Our workers constantly have to fill in the holes and replace the missing cobblestones. It costs around €200 per square metre." Read more.
