| Author (Person) | Pignal, Stanley |
|---|---|
| Series Title | Financial Times |
| Series Details | 4.10.11 |
| Publication Date | 04/10/2011 |
| Content Type | News |
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Dexia, the Franco-Belgian banking group, was put on a negative downgrade watch by Moody’s on the 3 October 2011, which cited concerns about a further deterioration in its liquidity position. Dexia is majority owned by the French, Belgian and Luxembourg governments and state-led bodies such as the Caisse des Dépôts et Consignations, the French sovereign wealth fund. France and Belgium would 'step in' if needed to save the troubled Dexia bank, the Belgian finance minister Didier Reynders said on the 4 October 2011, amid fears of collapsing dominos throughout Europe's ailing banking system. The break-up of Dexia began to take shape on the 6 October 2011 as the ailing Franco-Belgian bank announced it was in advanced talks to sell its Luxembourg unit. |
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| Subject Categories | Business and Industry |
| Countries / Regions | Belgium, France, Luxembourg |
