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Dexia press release: Belgian, French and Luxembourg states provide strong support

 

 

ORIGINAL THINKING here: What is going on at Dexia? 

photo credit, Metro Station Merode, Etterbeek, Brussels (from a Flickr friend) 

The Belgian, French and Luxembourg states provide strong

 

France, Belgium, Luxembourg agree on Dexia rescue deal & Qatar Investment Authority to take over Dexia Luxembourg?

Reuters reports that France, Belgium and Luxembourg governments reached an agreement on Sunday on a rescue package for Dexia, which will be put to the stricken Franco-Belgian bank's board later in the day for approval.


Dexia confirms having entered into exclusive negotiations with an international group of investors in which the State of Luxembourg will participate for the disposal of Dexia Banque Internationale à Luxembourg. The Board of Directors of the Dexia group will take a decision on a potential offer by the end of the exclusive
period.

List of European banks in risk - by P/B-ratio (price-to-book ratio)

Wikipedia: The price-to-book ratio, or P/B ratio, is a financial ratio used to compare a company's book value to its current market price. Book value is an accounting term denoting the portion of the company held by the shareholders; in other words, the company's total tangible assets less its total liabilities. The calculation can be performed in two ways, but the result should be the same each way.

Dexia press release 4 October 2011

Regulated information


*
Read more

Visual of the 5yr CDS for BoA, MS, Dexia, Soc Gen, Banco Popular and Unicredit

Credit default swaps are contracts designed to insure creditors against a bank (or indeed any company) going bust.


A CDS is a contract issued by big City firms or fund that guarantees the holder will be covered if a particular company defaults on its debts. It is basically a type of insurance used by large investing institutions.

What is going on at Dexia? 46 year old CEO Stefaan Decraene to depart

 

belgium is no democracy asymptotix

Stefaan Decraene, the CEO of Dexia Bank Belgium and member of the Executive Committee of Dexia Group, will leave the company. The 46-year-old Decraene who ran Dexia Bank Belgium for over five years will leave the group for an international job in another bank. There are strong indications that he is switching to the French financial giant BNP Paribas, the parent of Dexia's rival Fortis. The departure of Decraene, number two at the top of Dexia, is a new blow to the embattled group.

BELGIUM IS A FISCAL DISASTER - THE IMF

cinquentennaireHOW DID THE RATINGS AGENCIES MISS THIS?

 

QUOTATION FROM PAGE 11:

Dexia Plans Another EUR240 Million In Cost Cuts - another 700 - 800 job losses

Dexia, a specialist in local government finance, is planning EUR240 million in cost-cuts in what will be the final round of its 2008 savings plan, the bank said Friday. The company will put its plan to employees at a union meeting to be held Sept. 15, it added. An article in Friday's edition of Belgian daily De Standaard said the latest round would include another 700 to 800 job losses. They would come on top of 1,500 already made over past months. "We are analyzing every hypothesis in order to hit that (EUR240 million) target," Dexia said in a statement.

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