Belgium's budget crisis reaches boiling point: PM submits his resignation

Belgian Prime Minister Bart De Wever submitted his resignation to King Philippe after the collapse of budget talks over a deficit of about €10 billion. The king did not accept the resignation and will hold consultations with party leaders; the final decision is expected on Friday.

Belgium's budget crisis has reached its peak: Prime Minister Bart De Wever submitted his resignation this morning (Monday) to King Philippe, after the collapse of overnight marathon talks between the five coalition parties. The central point of contention is a deficit of about €10 billion (about $11 billion) in public spending. King Philippe chose to delay the decision and not accept the resignation immediately, expressing deep regret that no agreement was reached on a credible budget. He will hold a series of consultations with party leaders starting Tuesday, and the final decision on whether the government will resume functioning or Belgium will head to elections is expected this coming Friday (November 6).