The “Garden Futures” exhibition, currently gracing the Nieuwe Instituut in Rotterdam until April 13, 2025, embarks on a captivating journey through the intricate history and promising future of the modern garden. Curated by Maria Heinrich and spatially designed by Frank Bruggeman, this exhibition transcends the traditional notion of the garden as a mere personal retreat. It emerges as a vibrant canvas upon which broader political and commercial forces are vividly portrayed. The exhibition's four thematic chapters offer a comprehensive exploration, allowing visitors to delve deep into the evolution and potential of gardens.

Unlock the Secrets of Modern Garden History and Future at the Nieuwe Instituut

The Garden as a World

In this initial section, the historical context takes center stage. It showcases how gardens have been mirrors and shapers of society throughout the ages. From ancient civilizations to modern times, gardens have played a pivotal role in reflecting and influencing cultural, social, and political landscapes. One can envision the grand gardens of Versailles, symbolizing the opulence and power of the French monarchy, and the humble community gardens of today, representing the collective spirit and efforts of local communities. These examples vividly illustrate the diverse ways in which gardens have intertwined with human history. 2: The historical exploration also reveals the hidden connections between gardens and major events. For instance, during times of war, gardens often served as havens of peace and solace. They provided a respite from the chaos and destruction around them. Moreover, gardens have been instrumental in the spread of ideas and cultures. The exchange of plant species through trade routes has led to the creation of new hybrid plants and the blending of different gardening styles. This historical perspective gives us a deeper understanding of the significance of gardens in shaping our world.

Garden Politics

Here, we plunge into the social and political dimensions embedded within garden design. It becomes evident that gardens are not just aesthetic spaces but also reflect the power dynamics and ideologies of society. The influence of different political systems on garden design is palpable. For example, in socialist countries, gardens were often designed with the intention of providing equal access to green spaces for all citizens. On the other hand, in capitalist societies, gardens have been used as symbols of wealth and status. Additionally, the role of commercial interests and land ownership in shaping garden spaces cannot be overlooked. The historical colonial trade in flowers and plants, for instance, had a profound impact on the global distribution of plant species and the development of different gardening traditions. 2: Garden politics also extend to the design trends influenced by garden tool manufacturers. The availability and popularity of certain tools have shaped the way gardens are designed and maintained. For example, the invention of the lawnmower in the 19th century led to the widespread popularity of manicured lawns as a symbol of a well-kept garden. This, in turn, influenced the design of gardens and the way people perceived and interacted with them. Understanding these political and commercial forces is crucial in comprehending the full significance of gardens in our society.

Testing Grounds

The “Testing Grounds” section shines a light on the garden's role as an experimental space for innovative solutions. Rotterdam serves as a prime example, with its diverse range of garden initiatives. The garden suburb of Vreewijk showcases how urban planning and gardening can merge to create sustainable and livable communities. The Island of Brienenoord tidal park demonstrates the potential of using natural elements to create unique and resilient garden spaces. Community gardens like Wijktuin Ommoord highlight the power of collective action in transforming neglected areas into vibrant green spaces. These examples illustrate the garden's ability to address pressing issues such as biodiversity, social justice, and sustainability. 2: Through these testing grounds, we see the potential for gardens to become catalysts for positive change. They offer a platform for experimenting with new plant varieties, sustainable gardening techniques, and community-driven initiatives. By showcasing these examples, the exhibition encourages visitors to think beyond the traditional boundaries of gardening and explore new possibilities. It inspires them to become active participants in shaping the future of gardens and the environment.

The World as a Garden

This final section offers a broader perspective, emphasizing the integration of ecological principles and sustainable practices into larger landscapes. Michael van Gessel's archive and Ada Patterson's artwork provide a critical lens on the colonial history that has impacted garden design. By highlighting these aspects, the exhibition encourages viewers to view the garden as an integral part of a larger ecological system. It promotes a holistic vision for the future of garden design, where sustainability and ecological balance are at the forefront. 2: The World as a Garden section showcases how gardens can become agents of environmental restoration and conservation. By incorporating native plants and sustainable practices, gardens can contribute to the preservation of biodiversity and the health of the planet. It also demonstrates how gardens can serve as educational tools, raising awareness about environmental issues and inspiring people to take action. This holistic approach to garden design is essential in addressing the challenges facing our planet and creating a more sustainable future.

The European Union's debt market is witnessing a significant development as Eurex Clearing AG gears up to launch bond futures next year. This move comes as the region's largest issuer seeks to enhance liquidity and potentially lower borrowing costs. Just weeks ago, Eurex had indicated that it was too early to introduce a contract in 2024 as originally planned. However, recent market trends and the EU's new repo facility have changed the equation.

Key Factors Driving the Decision

The exchange cited increased secondary market volumes and the EU's new repo facility as meeting the "pre-requisites" for a deliverable futures market. These factors have played a crucial role in Eurex's decision to enter the fray. Back then, a "key" pre-requisite for such a product was that the EU bond program becomes sustainable and of long-term nature beyond 2026. Although the bloc only started ramping up debt issuance after the pandemic and currently has no plans to issue bonds that increase its debt load beyond 2026, the Eurex decision is still a welcome development.

Enhancing Liquidity in EU Bonds

The EU is actively working to improve the liquidity of its bonds. The introduction of a repo facility in October has been a significant step in this direction. It has enticed banks to provide better quotes on EU bonds, thereby increasing trading activity. Bond investors often use futures to hedge their portfolios, and major European sovereign debt issuers like Germany, France, and Italy already have such markets. However, it's not guaranteed that either Eurex's or ICE's contracts will attract sufficient volumes.

Secondary market trading in EU-Bonds is on a par with some of the largest sovereign issuers. This indicates the potential for growth and increased participation. The market for EU bonds is continuously developing in terms of depth and liquidity, presenting opportunities for both investors and market participants.

The yield on 10-year EU debt was two basis point lower at 2.76% on Tuesday, which is some 50 basis points more than comparable German bonds. This highlights the importance of a well-functioning futures market in reducing yield differentials and improving market efficiency.

The Impact on the EU and Market Participants

A futures market for EU bonds is seen as a way of boosting trading and attracting more investors. It provides a platform for hedging and risk management, which is crucial in the volatile bond market. For the EU, a more liquid bond market can lead to lower borrowing costs and greater financial stability. Market participants, including banks and institutional investors, will also benefit from increased trading opportunities and improved price discovery.

Eurex's entry into the bond futures market adds to the competition between it and rival Intercontinental Exchange Inc. Both players are vying for a share of the growing EU bond market. The success of their contracts will depend on various factors, including market demand, regulatory environment, and the overall economic outlook.

The EU's efforts to improve the liquidity of its bonds are part of a broader strategy to strengthen its financial markets. By attracting more investors and increasing trading activity, the EU aims to become a more attractive destination for capital and enhance its economic resilience.