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Statement about Fortis and BNP Paribas

News item | 06-10-2008

The Dutch government regards the new alliance between the Belgian and Luxembourg parts of Fortis and the French bank BNP Paribas as 'a significant step towards greater financial system stability'.

The statement was made jointly by Prime Minister Jan Peter Balkenende and finance minister Wouter Bos.

On 3 October 2008 the Netherlands took over the Dutch branch of Fortis, in order to safeguard the interests of workers, clients, account holders and businesses.

'With the financial resources made available by this move, a contribution was made towards a new future for the other divisions of the Fortis group', the statement goes on to say.

According to the government, Fortis in Belgium and Luxembourg is going forward with a strong partner. This is in the interest of the Netherlands and the financial stability of Europe as a whole.

Given the hectic conditions prevailing on the world financial markets, Balkenende and Bos have described the take-over as a 'win-win situation for all parties concerned'.

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