Director(s): Alain de Halleux – Writer(s): Catherine Le Gall, Alain de HALLEUX Contact Print page
Dexia, a name largely unknown in France or elsewhere. And yet, a true banking tsunami. This Franco-Belgian bank that provided governments and local public administrations with financial services, was a systemically important bank. In other words, if it collapses, the whole economy of France and Belgium would be paralyzed.
In 2008, the subprime crisis put international finance in jeopardy. Dexia collapsed and the Belgian and French governments had no other choice than to provide massive bailouts with public money.
But the story didn’t end there. On the contrary, it is only just beginning...