Edited by François-Charles Laprévote, Joanna Gray and Francesco De Cecco
Chapter 12: State aid to banks in Belgium
The financial crisis hit the Belgian banking sector hard and early. The Belgian State had to bail out the three banking pillars of Belgium, namely Fortis, KBC and Dexia. From recapitalisations to guarantees and impaired asset relief measures, Belgium made use of the whole panoply of State aid measures available to restore confidence in the banking sector, under the benevolent and yet firm control of the European Commission. Belgium also introduced a guarantee scheme for shareholders of financial cooperatives, which the European Commission found incompatible with the internal market. Overall, while the European Commission did not burn bridges, it made sure that State aid granted by Belgium did not go one bridge too far.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.