State aid to banks in Belgium

Jean-Sébastien Duprey

Chapter 12 in Research Handbook on State Aid in the Banking Sector, 2017, pp 307-355 from Edward Elgar Publishing

Abstract: 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.

Keywords: Economics and Finance; Law - Academic (search for similar items in EconPapers)
Date: 2017
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