Open

Coming up

Don't miss

Replay


LATEST SHOWS

WEB NEWS

Trash collection goes high tech

Read more

WEB NEWS

Web users react to escalating violence in Gaza

Read more

FASHION

Paris, Haute Couture Fall/Winter 2014-2015.

Read more

REPORTERS

Exclusive: an unlikely victim of the 'War on Terror'

Read more

AFRICA NEWS

2014-07-11 21:47 AFRICA NEWS

Read more

MEDIAWATCH

Finally, a good use for new app "Yo"

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014 (part 2)

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014

Read more

#THE 51%

Sweden: A Feminist's Paradise?

Read more

  • Germany defeat Argentina 1-0 to win World Cup

    Read more

  • Thousands flee northern Gaza after Israel warning

    Read more

  • Major differences remain as deadline looms in Iran nuclear talks

    Read more

  • Paris’s Bastille Day fireworks ‘an homage to victims’ of WWI

    Read more

  • French military to extend Mali 'counterterrorism' operations into Sahel

    Read more

  • Legendary conductor Lorin Maazel dies aged 84

    Read more

  • Germany’s Tony Martin wins ninth stage of Tour de France

    Read more

  • Boko Haram claims Nigeria attacks and supports Iraqi militants

    Read more

  • French court lifts mayor’s ban on Muslim hijab at beach

    Read more

  • Shells land in Russia as eastern Ukrainians flee fighting

    Read more

  • Rival Libyan militias exchange heavy fire at Tripoli airport

    Read more

  • Iraqi parliament fails to agree on new leadership

    Read more

  • Afghan presidential candidates agree to full vote audit, Kerry says

    Read more

  • Last of the Ramones, Tommy Ramone, dies aged 62

    Read more

Business

Brussels to probe Dexia rescue plan

©

Latest update : 2009-03-13

The European Commission has started an indepth investigation into the Franco-Belgian bank Dexia's rescue plan. EU regulators are concerned about the group's longterm viability, despite a 6.4 billion euro cash injection.

AFP - European Union regulators announced Friday that they had launched a probe into the rescue of Franco-Belgian bank Dexia to find out whether it will ensure the group's future.

"The European Commission has started an in­depth investigation under (EU) state aid rules to establish whether the restructuring plan for the Dexia group will restore the group's long­term viability," a statement said.

Late last year, France, Belgium and Luxembourg injected 6.4 billion euros into Dexia and pledged to guarantee its borrowings on the markets as its shares plunged during the worst credit crisis in generations.

The commission, the EU's top competition watchdog, said its announcement would give the parties a chance to comment on the measures which remain valid while the probe is underway.

"The commission is required to check that the large amount of aid provided to Dexia is accompanied by realistic projects to address the problems that led to the current situation," EU Competition Commissioner Neelie Kroes said.

"We cannot reach a favourable conclusion at this stage on the plans submitted to us. We therefore have to study them in depth."
 

Date created : 2009-03-13

Comments

COMMENT(S)