BRUSSELS Feb 7 Belgian-French financial
services group Dexia (DEXI.BR) has used up about half of the 150
billion euro ($192.1 billion) state guarantees for its
Dexia had used up guarantees totalling 75.35 billion euros
by Thursday, according to a posting on the website of the
Belgian national bank.
Dexia declined to comment on Saturday on the apparent speed
at which they were being used up.
The guarantees from France, Belgium and Luxembourg for up to
150 billion euros of borrowing were supposed to last until
Belgium will provide guarantees of up to 90.75 billion
euros, France 54.75 billion and Luxembourg 4.5 billion euros.
Dexia, the world's largest municipal lenders, received a 6.4
billion euro bailout by France, Belgium, Luxembourg and key
shareholders in September and later won state guarantees for its
It has since announced restructuring plans designed to cut
costs by 15 percent over three years after what it believes will
be a 3 billion euro net loss in 2008.
(Reporting by Philip Blenkinsop)