Bloomberg News

All Options ‘on the Table’ for Dexia, Luxembourg’s Frieden Says

October 03, 2011

Oct. 3 (Bloomberg) -- Luxembourg Finance Minister Luc Frieden said “all options” are on the table regarding Dexia SA and that France, Belgium and Luxembourg will do what is needed for the bank.

“I can assure you that the governments of the three countries will take whatever steps are necessary to make sure that the clients and the employees of Dexia can have trust in that bank, as we did in 2008,” Frieden said in an interview with Bloomberg Television today in Luxembourg. “All options are on the table in a constructive manner to make sure that the bank in whole or in part will remain a very serious financial institution.”

Frieden said re-introducing government guarantees on Dexia’s senior debt “is not the preferred route for the Luxembourg government.” He said officials will do “whatever it takes, because it’s a systemic bank, for Dexia, like for any other banks, to make sure that these banks in an environment which is complicated will remain a trustworthy and stable bank.”

To contact the reporter on this story: Stephanie Bodoni in Luxembourg at sbodoni@bloomberg.net

To contact the editor responsible for this story: Jones Hayden at jhayden1@bloomberg.net


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