Belgium Reaps Benefits of Stability

BRUSSELS—Belgium has seen its borrowing costs fall as a combination of a growing economy, an end to a political impasse and the resilient performance of its neighbor Germany have restored market confidence in the country's ability to survive the euro-zone debt crisis, economists said Wednesday.

The lower funding costs should equate to savings of about €100 million ($125 million) this year, ING economist Philippe Ledent said in an interview, adding that "investors are classing us as one of the good students again."

The 10-year Belgian bond yield was at 3.29% Wednesday, unchanged from Tuesday, having been as high as 5.85% in November. Spreads with current safe-haven Germany for 10-year debt have narrowed to 1.82 percentage points, after having widened to 3.62 percentage points in November.

"Consumer confidence, deficit reduction and the budget measures all show we've made a vast amount of progress since last year," a spokesman for Prime Minister Elio Di Rupo said. "We've gone from comparisons with Iraq, because of the lack of government, to spreads that show we're back in the euro-zone core."

Belgium lost favor with investors late last year when its rating was downgraded after political infighting left it in the hands of a caretaker government for 18 months. Mr. Di Rupo eventually put together a six-party coalition, which has since trimmed over €11 billion off the country's budget to comply with European Union rules on deficits this year.

"Markets have understood that Belgium should not be compared with Italy, Spain or any other Mediterranean countries," National Bank of Belgium Governor Luc Coene said Monday. "The government has worked hard to find the right balance, though it's clear we need some more efforts."

Mr. Coene said the government's reforms would enable the country to meet its deficit target of 2.8% of gross domestic product this year. On the same day, the Belgian Debt Agency updated its funding plan for 2012, cutting gross financing requirements to €37.93 billion from €38.57 billion.

Still, it isn't all clear sailing for the country of 11 million. Its national bank warned that additional measures will be necessary to meet deficit targets in 2013, and local elections are due this October, risking a resurgence of the political tensions between the Dutch-speaking north and the Francophone south that led to the previous political crisis.

"I'm a bit worried this growth is artificial, that it's just riding on Germany's coat-tails," said Mr. Ledent. "Jobs have been created, but in the nontradable sector, and this just isn't translating into consumption."

Mr. Di Rupo's government will next month unveil a plan to spur the economy by restoring the country's competitiveness and boost competition in network industries, according to documents seen by Dow Jones Newswires.

The draft plan also calls for measures to tackle inflation, a perennial problem for the country, which still indexes wages to consumer-price increases, rather than productivity. Inflation reached 4% in July 2011 and is seen at 2.6% this year, and is linked to energy prices in particular. The country's inflation should be in line with the European Central Bank target of below, but close to, 2%.

However, with 63.8% of its funding needs met this year and the savings on lower interest rates set to feed into the budget-deficit reduction plans, Belgium is a more attractive option for investors.

"The perception around Belgium has changed markedly since November last year when it fell victim to peripheral contagion," Belfius Bank analyst Willem Glorie said in a note to clients. "The country has in the meantime regained its place among the (semi-)core."

Write to Frances Robinson at frances.robinson@dowjones.com

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From newbie to scholarship player, Curtis' O'Gara becomes dominant force

Four years ago, Taylor O’Gara would never have imagined all she would accomplished. The Curtis star only picked up a lacrosse stick as a freshman and turned into one of the city's best players.

“I never thought it would get this big,” the senior said. “I’m so grateful and happy to be here.”

Here was the Brooklyn Marriott Monday night, where O’Gara was honored with the PSAL girls lacrosse Wingate Award, given to the top senior in each spot. She described it an amazing honor to be in the same room with so many of the athletes she had only seen or read about over the years.

Denis Gostev

Taylor O'Gara of Curtis was the girls lacrosse PSAL Wingate Award winner.

Not bad for a kid who never heard of the sport until she entered Curtis, trying out at the behest of friend Erin Jacobson, the Warriors eventual goalie.

“I really loved it ever since then,” O’Gara said. “I’m happy to have made such a great choice.”

She ended up having of the best careers ever by a PSAL player. O’Gara scored 189 league goals in her career. That included a remarkable 98 this year, a PSAL single-season record, to go along with 17 assists. The Warriors went 41-18 in league play during her four years on the team and made three trips to the PSAL Class A final.

“By sophomore year, the end of it, she started putting in goals and we knew we had a really good player on our hands,” Curtis coach Matt Gonzalez said.

O’Gara tried her hardest to bring home a title to the St. George school this spring. She scored six goals in a semifinal win over Midwood and six more, including the tying score with 42 seconds left in the first overtime, in a championship game loss to Tottenville. It earned her MVP honors, despite the loss. Before the final contest, all of her teammates dyed their hair her signature red.

“[They] said it was for me,” O’Gara said. “It was just really nice for them to do it.”

She will continue her career at Robert Morris University in Illinois, an NAIA school where she received a full scholarship. O’Gara visited in November, felt comfortable playing with the girls on the team and fell in love with the area. She loved their cohesiveness and picked them over Detroit Mercy.

“It’s something I never thought I’d be able to do,” O’Gara said of playing in college.

Gonzalez believes because of her limited time playing the sport, she still has plenty of growing to do and her best is still to be seen.

“I could be more proud of her,” Gonzalez said. “She started as a freshman and improved every year and this year to have the season she had. ... I think she is going to improve and be a big asset to that program.”

jstaszewski@nypost.com

Taylor O’Gara, PSAL, O’Gara, Curtis coach Matt Gonzalez, Gara, The Warriors

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Warner Fusselle dead

Warner Fusselle, a great, odd character of sports broadcasting — after Mel Allen’s passing he was the voice of “This Week In Baseball,” yet he was a professional communicator who never owned a telephone — died Sunday night of a heart attack at the offices of Phoenix Communications, his longtime employer. He was 68.

Most recently the Voice of the Brooklyn Cyclones, Fusselle devoted his career to smaller-stage radio sportscasting, including Seton Hall basketball and several minor league baseball teams. And he gladly mentored young sportscasters as the go-to savant at Phoenix and MLB Productions.

Fusselle was a man of few needs and a peculiar, almost spooky, lifestyle. He often slept overnight in his offices — and looked it. He had no home telephone — never — and a cell phone was out of the question. One could reach him only at work, and that often meant at ballparks. But he always was worth the effort.

Born in Georgia, a graduate of Wake Forest and an Army vet, he’s survived by his sister, two nephews and scores who fondly recall his eccentricities, his guidance and his wisdom.

“In 1977 [the year TWIB first appeared], Warner showed up and found two historical errors in a script,” said Phoenix VP Geoff Belinfante. “He said, ‘I think I can help. I think you need me.’ He never left.”

phil.mushnick@nypost.com

Phoenix Communications, Warner Fusselle, Brooklyn Cyclones, professional communicator, minor league baseball teams, Phoenix

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Mayweather seeks early release from 'inhumane' prison

LAS VEGAS — Boxing champ Floyd Mayweather Jr. is seeking an emergency release from jail just 12 days into his three-month sentence on a domestic battery count, citing “inhumane conditions” that could end his boxing career.

Mayweather’s attorney Richard Wright filed a motion seeking his client’s release late Monday, asking that the 35-year-old be allowed to serve the remainder of his sentence under house arrest, the Las Vegas Review-Journal reported.

The motion claims Mayweather’s personal physician Dr. Robert Voy “expressed deep concern for Mr. Mayweather’s health and explained that any lengthy period of time with an inappropriate diet, coupled with lack of regular exercise, will most likely lead to irreversible damage to Mr. Mayweather’s physique.

“Such damage could and, most likely, would lead to Mr. Mayweather being unable to continue his boxing career,” the motion said, according to the Review-Journal.

The motion complained that Mayweather has been confined to his cell 23 hours per day and that he is alone and unable to use the detention center’s training facilities during his one hour of recreation time.

The undefeated five-division champion is being held away from the general population due to his celebrity status.

Mayweather was due to serve time in January for assaulting his ex-girlfriend, but Las Vegas Justice of the Peace Melissa Saragosa pushed back the sentence to allow him to fight Miguel Cotto, whom he defeated May 5 in a unanimous decision.

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Today's Sports on the Air

Baseball

4 p.m.

NCAA Super Regionals: Arkansas vs. Baylor, Game 3
ESPN2

7 p.m.

Red Sox at Marlins ESPN

7 p.m.

NCAA Super Regionals: Oklahoma vs. South Carolina, Game 3, if nec. ESPN2

7 p.m.

NCAA Super Regionals: Oregon vs. Kent State, Game 3 ESPNU

7 p.m.

AAA: Tides at Bison SNY

7 p.m.

Yankees at Braves YES, WCBS (880 AM)

Stanley Cup Finals

8 p.m.

Devils at Kings, Game 6
NBC, WFAN (660 AM)

Soccer

Noon

Euro 2012, Group D:
England vs. France ESPN

2:45 p.m.

Euro 2012, Group D:
Sweden vs. Ukraine ESPN

Tennis

7 a.m.

French Open: Men’s Final (cont.): NBCSN

Horse Racing

12:25 p.m.

Parx Ch. 71

Kent State, WCBS, South Carolina, Marlins online, WFAN, Baylor, Sox, Braves YES

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Newkirk leads Team SCAN 16s to Rumble title

When the city’s top sophomores are discussed, the names you usually hear are Isaiah Whitehead, Khadeen Carrington and C.J. Davis.

Shavar Newkirk should be in the conversation, particularly after this weekend. The Cardinal Hayes guard led Team SCAN to the Rumble in the Bronx 16U title and garnered MVP honors after the program’s fifth title this spring.

“I think he’s second behind Whitehead,” Team SCAN coach Terrence (Munch) Williams said. “I think he’s the No. 1 point guard in 2014. I don’t think it’s a race. That kid wins, he wins at every level. He wins in high school, he wins in AAU. When it’s all said and done, he’ll be between a top 50 and a top 100 kid in the country.”

Denis Gostev

Cardinal Hayes' Shavar Newkirk led Team SCAN to the Rumble in the Bronx 16U crown over the weekend.

Newkirk has played so well this spring, Williams said, he’s been the team’s most valuable player, and the group includes nationally ranked sophomore Chris McCullough.

“He runs a team, he rarely turns the ball over, he gets a few points, assists, steals rebounds,” Williams said of the 5-foot-11 Newkirk, who has scholarship offers from Providence, Seton Hall, Manhattan, Iona and Iowa State. “He’s having a wonderful [AAU] season.”

Newkirk stood out in the loaded event, but he was not alone. McCullough, an uber-talented 6-foot-9 Bronx native, played well at both ends of the floor, especially on defense, an area of his game he has looked to improve upon, Williams said. He also excelled offensively, as expected, hitting 3-pointers and throwing down emphatic dunks.

“Chris is at times a man amongst boys,” Williams said. “He dominated at times. He’s everyone’s focal point every time he steps on the court.”

Williams also singled out the play of Conrad Chambers, Quincy McKnight and Cheick Diallo. In fact, SCAN had 14 players for the event, a first this spring, and each one had a hand in the title.

“Each kid was able to play an important role, whether it was starting or coming off the bench,” Williams said.

Team SCAN had to earn the crown, going through Canada powerhouse CIA Bounce and Texas Select in the playoffs just to get to the finals. In the championship, they took down The City, 59-38, and defeated King Street Kings, Kendall Madison Playaz and Brooklyn Leaders in pool play.

Williams played down the significance of the tournament title – his team’s goal is to win every time it takes the court and to leave each tournament with hardware. He was happy to see his team perform so well locally in front of friends and family because it is so often on the road.

“Us playing this weekend here allowed people to see us in action, good bad or indifferent,” Williams said. “We showed we’re a talented group with kids who play together.”

Williams does think his team proved one thing over the weekend: it is the premier program in New York City. Not only did the 16s win a title, the 15s reached the championship, losing to the New Jersey Playaz Club, and the weekend before, the 14s made it to the finals as well.

“While New York is quote-unquote down, Team SCAN is not down – we’re up,” he said. “We’re having a great season. Some would say what we’re doing is unprecedented.”

zbraziller@nypost.com

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Two-wheel strive

The price of gas being what it is, a motorcycle could help you beat the pump and cut a dashing figure at the same time. Plus, with your helmet you won’t be tempted to talk on your cell phone.

Baby Boomer bikers dominating their growing pastime with $15,000 road bikes are finding doses of needed nostalgia in Motorcycle Classics. It’s become a hit with its spreads on scores of icons from yesteryear, such as the 1971 Honda 100 and 1981 Yamaha 550, modest favorites of their day. Articles and photos extol the beauty and mechanical virtures of other classics such as the 1921 Indian, the 1934 Husqvarna and the beloved 1975 Norton Commando. Vintage bike auctions, the magazine reports, are the hottest sector among motoring collectibles, for example $6,500 for a fixed-up 1974 Honda 350, one of America’s most popular starter bikes of its time.

At last we get the answer to how motorcycle riders cope with bug splats. Some people who are curious about motorcycles but who have never ridden one have perhaps thought about this uncomfortable issue. Sport Rider’s Jeff Buchanan tells us, “There will be bugs.” Also, a feature on the Japanese father of the sport bike, Tadao Baba, takes readers into Honda’s heyday. Baba is a bike rider/engineer and used to personalize bikes off the production line with “happy riding” notes. This month’s edition squares off Ducati and Triumph with a surprise victor in performance.

Motorcycle Cruiser is a California-based title offering just what you’d expect from this magazine category. There are endless machine reviews, comparisons of the latest helmets and a buyer’s guide on bike-to-bike communication: apparently gesturing to friends isn’t high tech enough. If you’re into the scene, though, you’ll no doubt enjoy the cover story comparing two unique models, the Harley Switchback and the Victory Hard-Ball. Winner: The Hard-Ball, for reasons we can’t fathom, since reviewers loved both.

Cycle World appears aimed at an older crowd with its blocky layout and several pen and ink drawings of bikes. Editors try to ascribe human qualities to their bike reviews and in one roundup they decide to define a set of bikes with character. Each one gets a little strap with a photo of a film character that most expresses the bike’s qualities. The Ducati Diavel Carbon is “Batman Dark Knight’s ride of choice.” The Triumph Scrambler is Steve McQueen trying to escape from prison, and Indiana Jones is Ural M70. Each bike gets marks for badassness, crowd magnetism, bang for buck, escape artistry and Union Jack of all trades, whatever that means. Wait, did we say this title is for grown-ups?

New Yorker wonders what President Obama would do if he is re-elected. He could find a model in Ronald Reagan, whose advisers worked hard to shape his legacy. Speaking of leaving a footprint, a Tupelo, Miss.-based broadcaster named Bryan Fischer wants to make bias against gays the official stance of the Republican Party. He wants the next president to criminalize all abortions, wants schools to be able to teach intelligent design and seeks to make contraception available only to married couples. Elsewhere, an anecdotal history of the Supreme Court seems to have no purpose other than to offer the less-than-profound observation that “What people think about judicial review usually depends on what they think about the composition of the Court.” In other words, when your guy is in charge, you like judicial review.

Time offers a profile of Justice Anthony Kennedy, who could be casting the deciding Supreme Court vote on Obamacare, gay marriage, affirmative action and juvenile sentencing. Also under the microscope is the global economic crisis, though the story is hard to take seriously when it opens with not one, but two, references to Lady Gaga lyrics. Then comes a look at Elon Musk, an emerging leader in space exploration by a private company. Golfers may enjoy an article on Masters champion Bubba Watson that raises the question of whether he could fill the void left by Tiger Woods’ fall from grace.

Newsweek still believes we are British subjects. Tina Brown’s British slant is very apparent in the new edition featuring a cover story on Queen Elizabeth’s 60-year Jubilee. Fortunately, there is more here than the Jubilee. A feature on Penn State outcast Mike McQueary, who exposed alleged child molester Jerry Sandusky, helps illuminate the whole saga. Columnist Paul Begala offers a convincing argument on the hypocrisy of businessmen who call for the government to reduce the deficit, and then ask for subsidies. The big feature is on how Obama came to embrace drone strikes. Seems a little late to the game. Locally, Newsweek profiles the likely 2016 Democratic presidential primary race between Maryland Governor Martin O’Malley and Andrew Cuomo.

Ducati, President Obama, Norton Commando, Tadao Baba, Supreme Court, Honda, Motorcycle Classics, motorcycle, Ducati Diavel Carbon

Nypost.com