Flanders has, for most of recent memory, been more prosperous than Wallonia. I am sure some of the more racist Flemish nationalists (and there are plenty of them) would likely attribute this to the natural superiority of the more Germanic Flemings over the more Latin Walloons. Actually, in racial terms, there is hardly any difference between the two and the real reason is that Flanders has followed a more intelligent economic policy compared to Wallonia which has long been dominated by the socialists and has an economy that shows this. I can completely understand the Flemings being upset that their hard-earned tax euros get shoveled over to the Walloons to compensate for their bad economic decisions. However, the answer to that problem does not require independence, it only requires getting the socialists out of Wallonia and a good way to start would be to see them cut off from outside help so they would be forced to face the economic reality that socialism simply does not work. If the Red Chinese can figure it out, so can the Walloons. Ignoring the huge problem that would be Brussels, there is also the problem of what to do with the two halves of the former Belgium if Flanders declared independence.
Contrary to what some think, the area of modern Belgium has been a distinct political area for quite some time before the declaration of independence in 1830. It was distinct during the period it was united to The Netherlands after the Napoleonic Wars and before that it had long been the westernmost outpost of the Hapsburg empire. Wallonia as a part of the French Republic holds no romance for me and would be an odd fit; the similarities of language aside. However, Wallonia is not the driving force behind this but rather Flanders. What would become of Flanders? There are two options: either Flanders remains independent or joins their fellow Dutch speakers in a “Greater Netherlands”. Neither option appeals to this monarchist. First of all, let there be no confusion on this point: an independent Flanders would be a republic. Period. Without doubt. So, in that scenario, Europe loses a monarchy and is cursed with another republic. In the second case; Flanders being annexed by The Netherlands, no new republics are created (assuming Wallonia joins France as is most likely) but Europe is still down one monarchy. Not good. Furthermore, I do not believe Flanders would be happy in The Netherlands anyway. They have too much of a regional mindset and are too used to being treated as something special for me to believe that they would be content to be just another Dutch province. So, I say “no” to a Flemish republic and “yes” to the Kingdom of Belgium (which, lest we forget, has been a country longer than Germany, Italy, Poland and a number of others).