Probably not, but by the end of this week you may well be able to name 10 Belgian businesses. Following on from Fortis being helped out by the Benelux governments on Sunday, today is the turn of Dexia.
Dexia is one of the world's largest lenders to local governments, but has run up significant losses in its US operations. It is now partially nationalised by the Belgian, Luxembourg and French governments, to the sum of an investment of 3bn, 400m and 3bn Euros respectively. Its Financial Security Assistance unit which dealt in US bond insurance posted a 2nd quarter loss of $330m and has subsequently been hit by the collapse of Lehman Brothers.
This morning shares in the European markets have been hit by the US congress decision not to approve the bail out plan yesterday, following losses on the Asian markets overnight. However, after early losses many have rallied just in time for the New York Stock Exchange to open.