Good afternoon from Avenue Louise.
Today you’ve got me, Katie Westwood, back in the Belgium in Brief saddle.
For the news cycle, the war in the Middle East is the grim gift that keeps on giving.
Every day, analysts identify new ways in which the conflict will impact the lives of ordinary people around the world – including, of course, here in Belgium. It’s clear we should all be girding our loins for another monumental hike in the cost of living.
Attacks on Gulf energy infrastructure are pushing up energy prices to eye-watering levels, while the closure of the Strait of Hormuz is having a dramatic impact on global supply chains, including the shipping of vital commodities like fertiliser, which will in turn undermine global food security.
Today, our Political Editor Maïthé Chini looks at the likely impact of geopolitical tensions on Belgium’s interest rates. One property developer claims the war in the Middle East could cause a “new shock” in the Belgian property market, while the markets are anticipating three interest rate hikes by the end of the year.
The implications are worrying for us all. Increases in interest rates on mortgages will put pressure on families already struggling to make ends meet. Even perennial renters like me (a cursed Millennial) should be concerned – I know from bitter experience that hikes in mortgage payments are often passed straight to renters.
Staying with geopolitics, I also wanted to draw your attention to a thought-provoking piece by guest columnist Michael Rühle, a former chief speechwriter to the NATO Secretary-General.
Amidst all the global turmoil, US President Donald Trump’s recent broadsides against his NATO allies didn’t get as much attention as they should have. Belgium, which is home to two strategic headquarters (NATO HQ in Brussels and SHAPE in Mons), has a lot to lose if the alliance disintegrates.
Michael, a lifelong Atlanticist, is less worried about a formal withdrawal by Washington and more concerned about “the gradual erosion of the alliance” due to US neglect. He is calling on the US Congress – and, in particular, the Republican Party – to “wake up and reclaim ownership of the alliance” in the face of Trump’s hostility.
I'll leave you with more good news (they don't call me Debbie Downer for nothing): tick season is now upon us. Fortunately, help is at hand from our Health and Social Affairs Reporter Rita Alves, who has written a handy explainer on how to prevent and deal with these unpleasant critters.
Bye for now!
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. Global tensions, rising interest rates: Belgium’s property market may soon reach tipping point
"The situation evokes memories of the 2022 energy crisis, which followed the Russian invasion of Ukraine. A similar pattern threatens to repeat itself." Read more.
2. NATO: Hedging one’s bets
With the war against Iran not going as planned and allies reluctant to engage, has Trump’s anger become too great for even Mark Rutte to contain? Read more.
3. Online travel agency accused of trapping EU users in ‘subscription nightmare’
Complaints against the online agency were made by consumers in several countries including Belgium, Portugal, and Italy, according to Euroconsumers. Read more.
4. Flanders’ under-13 social media ban leads to uncertainty in Brussels
A regional ban on social media use for under-13s in Flanders has raised questions about what one in the Brussels-Capital Region could look like. Read more.
5. Belgian Foreign Minister in Finland to discuss the war in Ukraine
Belgium is collaborating with Finland on the ground in Ukraine through the “Shelter Coalition” initiative. Read more.
6. Proximus becomes first Belgian telecoms company to launch 5G+
So far available for professional clients only, the technology promises to radically change the user experience. Read more.
7. Tick season in Belgium: What do you need to know?
With tick season underway, Belgian health authorities are urging extra caution when going outdoors. Read more.
