Press Release: State aid: Commission temporarily approves rescue aid for Dexia Bank Belgium; opens in-depth investigation

The European Commission has temporarily approved, under EU state aid rules, the nationalisation of Belgium's second largest bank Dexia Bank Belgium (DBB) through its acquisition by the Belgian State for €4 billion to be paid to Dexia SA. The Commission acknowledges that the measure is necessary to preserve financial stability. However, at this stage, the Commission is not able to conclude whether the acquisition by the Belgian State complies with EU state aid rules. Belgium has six months to notify a new restructuring plan for the bank.

ESO: Background Information: Dexia to be dismantled over weekend http://www.europeansources.info/record/dexia-to-be-dismantled-over-weekend/

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