Belgian Wobble

People's attention has been focused on the so-called PIIGS, but, as I noted several months ago, it ain't just the southern European deadbeats +1 (Ireland) with the problems. Sovereign default concerns affect even the putatively staid and steady in the heart of Northern Europe. Today, Belgium gets to be center stage in the great unraveling of EU-funded welfare statism. Thankfully Belgium is small, but the point here, and the cause of so much fear, is that perhaps even the supposedly reliable European states aren't so reliable.