Dexia Bank Bail Out
Published / Last Updated on 09/10/2011
Dexia Bank Bail Out.
Troubled bank Dexia is to be bailed out by France, Belgium and Luxembourg. The Belgian government will buy the bank’s division in Belgium for 4bn euros ($5.4bn; £3.4bn)
According to Luxembourg’s finance minister, a Qatari investment group are prepared to buy the Luxembourg unit and under the plan, Dexia's French municipal finance operations will come under state control.
Dexia bank had to be bailed out in 2008, with the Belgian, French and Luxembourg governments putting in 6.4bn euros to keep it afloat.