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‘Dear bankers, it’s time to wake up:’ Belgium raises record €22 billion from savers in ‘clear signal’ for higher bank rates (english.elpais.com)

submitted 1 year ago by [email protected] to c/[email protected]

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Belgium has raised a record €21.9 billion ($23.65 billion) from savers in a bond sale designed to compete with bank deposits, a sign of growing popularity for government debt as discontent grows with lenders failing to keep up with surging interest rates. The sale marks the biggest funding drive from households in Belgium’s history and is likely Europe’s biggest retail bond sale, the country’s debt agency says.

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[–] [email protected] 1 points 1 year ago (1 children)

Isn't it beneficial for the Belgian state though? I didn't understand it as a favor that the government makes for us citizens. As I understood, this debt has lower interest rates for them. If so, there's no need to limit who can invest.

[–] Alami 2 points 1 year ago* (last edited 1 year ago)

Correct. And with a lower debt the country can also borrow other money from the market at lower rate too. Win win. I hope this sparks a discussion about why aren't banks a public service yet? Private gains in wealthy times and bailed out by taxpayers in crisis time. Hope they fix the roads though