Belgium never borrowed so cheaply

Belgium borrowed 3.575 billion euros at record low interest rates on Monday. Belgium's Debt Agency says the 1.26 billion euros was borrowed for a ten-year period at the historically low interest rate of 2.418%.

At the beginning of the year Belgium still needed to pay 4% in order to borrow cash for this length of time.

For 5-year bonds Belgium had to pay 1.08% in interest charges. This was the penultimate occasion this year that Belgium needed to go to the money markets to raise cash.

So far this year Belgium has raised 41.95 billion euros using long-term loans.

The low interest charges that Belgium is having to pay indicate a show of confidence in the government's determination in budgetary matters and acceptance that Belgium is one of the Eurozone's core economies.