On Tuesday 19 September, the European Commission approved the plan presented by the Belgian and French states to convert preferential shares in Dexia into ordinary shares, under the EU state aid rules.
Since it was placed into liquidation in 2012, the Franco-Belgian bank has no longer been present on the markets and is not competing on other market segments. It is, however, still subject to regulatory capital requirements.
Through this measure, the Belgian and French authorities aim to...