(I) In sharp contrast to many other euro-area members, Belgium and the Netherlands have in recent years been able to abide by the aim of the stability and growth pact, with budgets in balance or surplus. (II) Now the effects of weaker growth are eroding this achievement. (III) Their economy's slide intb deficit is a new worry and a reason for belt tightening. (IV) Similarly, Luxembourg, which for years had more Money that it could spent, is moving into the red. (V) In the end they have made concessions on their human srights law to improve relations with America.