Continue the fight for survival of Dexia. Belgium, France and Luxembourg have presented an agreement to the European Commission and to the Bank's board of directors to provide temporary guarantees to the Franco-Belgian bank, which many fear could end up like Lehman Brothers. Brussels has the task of assessing the compliance of the plan with European legislation on state aid.
This was communicated by Dexia, specifying that the temporary agreement with the three European countries will last until 31 May 2012 and establishes a ceiling of 45 billion euros to cover the group's financial needs, i.e. contracts, securities and financial instruments with a three-year maturity. The burden sharing between the three countries remains unchanged compared to theOctober 20 agreement last year: 60,5% in Belgium, 36,5% in France and 3% in Luxembourg.
