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Belgo-Dutch bank Fortis is the latest recipient of tax-payer bailouts in the financial sector (Photo: fortis.com)

Banking crisis claims Belgo-Dutch giant

The global banking crisis, born across the Atlantic, again sent waves crashing into Europe on Sunday (29 September) as the Belgian, Dutch and Luxemburg governments partly nationalised Belgo-Dutch banking and insurance giant Fortis in an €11.2 billion bailout.

The move was announced on Sunday evening by Belgian Prime Minister Yves Leterme, following a marathon weekend of talks between the three governments and European Central Bank chair Jean-Claude Trichet.

"We have taken up our r...

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Belgo-Dutch bank Fortis is the latest recipient of tax-payer bailouts in the financial sector (Photo: fortis.com)

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