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Dexia: second round of state aid gets green light | New Europe

On 28 December, the European Commission authorised additional state aid for the Dexia group, under the form a refinancing guarantee of €85 billion and a recapitalisation of €5.5 billion.

The Dexia group has already benefitted from state aid measures in 2008-2009 in the form of recapitalisation (€5.4 billion), refinancing guarantees (€135 billion) and impaired asset measures (€3.2 billion). The European Commission approved these aid measures, based on Dexia's restructuring plan which must be implemented until the end of 2014. The new  authorised aid granted by France, Luxembourg and Belgium, will be directed in completing the orderly resolution of the Dexia group, the sale of its subsidiary DMA (Dexia Municipal Agency) and the restructuring of Belfius (formerly Dexia Banque Belgique).

by afew (afew(a in a circle)eurotrib_dot_com) on Sun Dec 30th, 2012 at 03:30:12 PM EST
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