Dexia bailout should count in French, Belgian deficits -Eurostat
BRUSSELS, March 19
BRUSSELS, March 19 (Reuters) - Last year's 5.5 billion euro bailout of Franco-Belgian lender Dexia is not a financial investment by France and Belgium, Eurostat said on Tuesday, in a ruling that would push Belgium's deficit beyond the EU's limit.
Belgium's 2012 deficit just squeezed under the 3 percent of gross domestic product ceiling, but it argued that the 2.915 billion euros ($3.78 billion) it pumped into Dexia should not be included. With the Dexia bailout, the deficit would be at least 3.7 percent. ($1 = 0.7717 euros) (Reporting By Philip Blenkinsop)
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