Economy of Belgium force. One of the founding members of the European Community, Belgium strongly supports deepening the powers of the present-day European Union to integrate European economies further. About three-quarters of its trade is with other EU countries. Together with the Netherlands and Luxembourg, Belgium is also one of Benelux member states. Belgium's public debt is about 105% of GDP. The government succeeded in balancing its budget during the 2000–2008 period, and income distribution is relatively equal. Belgium began circulating the euro currency in January 2002. Economic growth and foreign direct investment dropped in 2008. In 2009 Belgium suffered negative growth and
Spanish Netherlands Spanish Netherlands Spanish Netherlands (; ; , ) was the collective name of States of the Holy Roman Empire in the Low Countries, held in personal union by the Spanish Crown (also called Habsburg Spain) from 1556 to 1714. This region comprised most of the modern states of Belgium and Luxembourg, as well as parts of northern France, southern Netherlands, and western Germany with the capital being Brussels. The Imperial fiefs of the former Burgundian Netherlands had been inherited by the Austrian House of Habsburg from the extinct House of Valois-Burgundy upon the death of Mary of Burgundy in 1482.