EC Statement: EC extends probe on Dexia’s orderly resolution plan; temporarily approves prolongation of refinancing guarantee to Dexia, DCL
( May 31, 2012, 15:30 GMT | Official Statement) -- MLex Summary: The European Commission allowed France, Belgium and Luxembourg to temporarily maintain a 45 billion-euro guarantee for Dexia, while extending an investigation into the breakup of the bank. The regulator voiced doubt that a future guarantee meets state-aid rules and the viability of Dexia Municipal Agency that is being bought by the French state. Reconsidering its approval of a prior restructuring plan, the commission added that a 2008 capital contribution from a Belgian investment firm may constitute state aid.Full statement follows....
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