Recession hits diamond capital Antwerp

Diamond trading, certification and polishing businesses in the Belgian city of Antwerp have reduced activities and temporarily laid off staff due to the economic crisis, as the industry is dependant on the cash-strapped banks to finance it.

A handful of old men with typical black hats and long grey beards sit scattered across an immense hall, some playing chess, others simply chatting with each other. The impression is of a social centre or a retirement home.

In fact, it is the t...