Tuesday, September 30, 2008
Fortis Rescued
The partial nationalisation of the Fortis finance and insurance group by the Benelux nations is a temporary solution.
Yesterday the Belgian, Dutch and Luxembourg governments rode to the rescue of Fortis with an 11.2 billion Euro bailout.
Fortis is the first big European bank forced into crisis talks by the credit crunch and saw nearly a quarter of its stock market value wiped out over the last week.
DATED: 30.09.08
FEED: AM
Yesterday the Belgian, Dutch and Luxembourg governments rode to the rescue of Fortis with an 11.2 billion Euro bailout.
Fortis is the first big European bank forced into crisis talks by the credit crunch and saw nearly a quarter of its stock market value wiped out over the last week.
DATED: 30.09.08
FEED: AM
