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The Atomium monument in Brussels: The Franco-Belgian bank risks being split into tiny pieces in order to protect high-street savers (Photo: O Palsson)

Greek crisis close to claiming first victim in EU banking sector

Franco-Belgian bank Dexia has said it might "restructure" its operations in response to a run on shares caused by exposure to bad Greek debt.

The bank in a statement issued after an emergency meeting in the small hours of Tuesday (3 October) said "the board has asked the CEO to prepare ... the necessay measures to solve structural problems which hamper its operational activities", citing "the size of the portfolio of non-strategic assets [which] structurally weighs down on the group." <...

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Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

The Atomium monument in Brussels: The Franco-Belgian bank risks being split into tiny pieces in order to protect high-street savers (Photo: O Palsson)

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Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

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