December 29, 2012

Europe approves winding down of bailed out Franco-Belgian bank

The European Commission has approved a 90-billion euro plan to wind down the ailing bank Dexia and restructure its remaining assets.

The plan, drawn up by major shareholders Belgium, France along with Luxembourg, includes 85 billion euros in state loan guarantees and 5.5 euros of fresh capital to carry it through the restructure. Read more.


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