{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Belgium, France and Lux bail out Dexia bank' data-url='/boclips/videos/5c54c349d8eafeecae160213' data-video-url='/boclips/videos/5c54c349d8eafeecae160213' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nBelgium, France and Lux bail out Dexia bank\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Pan down of Dexia building2. Mid of Dexia entrance 3. Tilt down from Dexia sign to entrance4. Pan of man walking in5. SOUNDBITE: (French) Employee, No name given\"Yes absolutely. I think that everybody has been worried but we will see...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Pan down of Dexia building\u003cbr/\u003e2. Mid of Dexia entrance \u003cbr/\u003e3. Tilt down from Dexia sign to entrance\u003cbr/\u003e4. Pan of man walking in\u003cbr/\u003e5. SOUNDBITE: (French) Employee, No name given\u003cbr/\u003e\"Yes absolutely. I think that everybody has been worried but we will see what the upcoming days will bring.\"\u003cbr/\u003e6. SOUNDBITE: (French) Employee, No name given\u003cbr/\u003e\"Dexia never had any problems. We hear in the press of a nationalisation but I would like to tell you that the state and the communes have always been majority shareholders in Dexia. So we cannot nationalise a bank that is already 'national'. And Dexia never had any problems and never will. \u003cbr/\u003e(Reporter's question: But there were problems yesterday.)\u003cbr/\u003e\"No that is speculation. Dexia has no problems whatsoever.\"\u003cbr/\u003e7. Various of Dexia lobby shot through glass doors and windows\u003cbr/\u003e8. Mid of street\u003cbr/\u003e9. Dexia signs on street\u003cbr/\u003e10. Mid of Dexia bank\u003cbr/\u003e11. People at cash machines\u003cbr/\u003e12. SOUNDBITE: (French) David Bergamo, 26-year-old bank customer:\u003cbr/\u003e\"Every time the state does something wrong it is the taxpayers who pay for it. That's just the way it is. Fortunately so, because had they been declared bankrupt it would also have been a bad thing.\"\u003cbr/\u003e13. People walking outside bank\u003cbr/\u003e14. Close of Dexia sign\u003cbr/\u003e15. Belgium Prime Minister Yves Leterme and Belgian Finance Minister Didier Reynders \u003cbr/\u003e16. Close of Leterme\u003cbr/\u003e17. Mid of Leterme and Reynders\u003cbr/\u003e18. Wide of reporters\u003cbr/\u003e19. SOUNDBITE: (French) Didier Reynders, Belgian Finance Minister: \u003cbr/\u003e\"We said already on Friday, following a ministers' meeting where we were discussing the situation, that the first objective is to preserve the savings, to preserve the customers in all of our banking institutions. That means to preserve them 100 percent. In other words to leave nobody in difficulty. The best way to preserve the customers 100 percent is to allow, of course, the activities of the institutions to continue in the best possible conditions.\"\u003cbr/\u003e20. Cutaway of reporter\u003cbr/\u003eDexia became the second Belgian bank this week to secure a government and shareholder bailout on Tuesday when Belgium, France and Luxembourg said they would inject almost 6.4 (b) billion euros (9.2 (b) billion US Dollars) to keep the business afloat.\u003cbr/\u003eDexia, a French-Belgian specialist in lending to local governments that ran up huge losses in its US operations, closed nearly 30 percent lower on Monday - triggering emergency talks with government officials.\u003cbr/\u003eBelgian authorities and Belgian shareholders said in a statement that they would invest three (b) billion euros (4.3 (b) billion US Dollars) in the bank, while the French government - via its investment arm CDC which holds just over 10 percent in Dexia - will invest another 3 (b) billion euros (4.3 (b) billion US Dollars).\u003cbr/\u003eLuxembourg will add 376 (m) million euros (539.7 (m) US Dollars).\u003cbr/\u003eDexia CEO Axel Miller and chairman Pierre Richard resigned after \"drawing conclusions from the current financial crisis and its impact on the Dexia group,\" the company said. \u003cbr/\u003eThey will stay until successors are appointed.\u003cbr/\u003eDexia said the bailout will allow it to remain \"one of the better capitalised banks in Europe\" even if market volatility further devalues securities and other products it holds.\u003cbr/\u003eFor Dexia, the Belgian and French investments come in the form of a capital increase that will issue new shares at 9.90 US Dollars (6.87 euros) per share, while the Luxembourg government will get newly issued convertible bonds.\u003cbr/\u003eIn return the bank promised to improve the way it is run. \u003cbr/\u003eIn a statement, the governments and shareholders said they would take \"necessary measures to significantly improve the group's corporate governance, in particular as concerns the governing bodies.\"\u003cbr/\u003eBelgium is splitting its share between the federal and regional governments, with 1 (b) billion euros (1.43 (b) billion US Dollars) each from the federal state, the three Belgian regions combined and shareholders Gemeentelijke Holding NV, Arcofin CV and Ethias.\u003cbr/\u003eBelgian Finance Minister Didier Reynders told a parliamentary committee that \"the first objective is to preserve the savings, to preserve the customers in all of our banking institutions. That means to preserve them 100 percent. In other words to leave nobody in difficulty. The best way to preserve the customers 100 percent is to allow, of course, the activities of the institutions to continue in the best possible conditions.\"\u003cbr/\u003eThe French government will invest one (b) billion euros (1.43 (b) billion US Dollars), with its state investment arm Caisse des Depots et Consignations injecting 2 (b) billion euros (2.87 (b) billion dollars.) \u003cbr/\u003eThis will give France a 25 percent stake in Dexia, the Elysee palace said in a statement.\u003cbr/\u003eDexia was one of several European banks to see its stock price drop sharply on Monday on fears that they would find it hard to cover potential losses as credit conditions tighten.\u003cbr/\u003eEmployees on Tuesday morning outside the company's Brussels headquarters had mixed feelings about how the next few days would pan out.\u003cbr/\u003eTrading in Dexia shares was suspended in Paris and Brussels on Tuesday after closing 28.5 percent lower at 7.20 euros (10.3 US Dollars) a day earlier. \u003cbr/\u003eBanking stocks across the board were trading lower, even those largely unaffected by worries over their ability to raise debt.\u003cbr/\u003eBelgium, the Netherlands and Luxembourg moved to save Belgian-Dutch bank Fortis on Sunday, pumping 11.2 (b) billion euros (16.4 billion (b) US Dollars) after its shares shrank by a fifth on Friday. \u003cbr/\u003eTraders saw the bank as overleveraged and lost confidence in its ability to pay for its expensive purchase of Dutch bank ABN Amro.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' 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