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EU clears Dexia restructuring plans

Dec 28 2012 14:02
European Union

European Union (File, AFP)

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Brussels - The European Commission said Friday it had approved the latest restructuring plan for Dexia, the Franco-Belgian bank, bailed out at the height of the financial crisis and struggling ever since.

The Commission said the plan, and the state aid it includes, will allow the the core banking business to be wound up while the remaining assets, a development agency and the Belfius unit in Belgium, will be put on a sound base.

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