King keeps Belgian government afloat, but 'terrible failure' looms

King Philippe of Belgium has temporarily resolved the political deadlock by rejecting the resignation of Prime Minister De Wever. The coalition parties expressed willingness to make concessions for a budget agreement. De Wever will consult with vice-premiers to clarify these concessions. The government faces the challenge of finding 10 billion euros by 2029 to manage the budget deficit, which is currently approaching 5%. The crisis stems from disagreements between right-wing parties favoring spending cuts and left-wing parties advocating for new taxes. Belgium's public debt stands at 110% of GDP, leading to increasing interest payments, which are projected to rise significantly by 2029. Without a budget, Belgium may have to rely on provisional funding starting January 1.