France and Belgium bail out Dexia, again

Nov 08, 2012, 8:11 AM EST
Belgium's Finance Minister Steven Vanackere holds a news conference on Dexia in Brussels November 8, 2012. A Franco-Belgian plan to put more capital into Dexia is intended to be the last for the troubled lender, and while the cash injection should not affect Belgium's deficit, it would add to the national debt, Vanackere said.
REUTERS/Eric Vidal

A further €5.5 billion ($7 billion) is injected into the stricken bank, its third government bail-out. Belgian finance minister Steven Vanackere (above) said he couldn't guarantee that this would be the last bailout the bank would need. Dexia lost €2.4 billion in the first nine month of this year following the sales of several business, including DenizBank in Turkey at a loss of €600 million, as required by previous bailouts.

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