Ok, please explain why banking and insurance group "Fortis" is being bailed out by the Netherlands, Belgium and Luxembourg to the tune of £9bn when last month Fortis announced it made £1.2bn profit in the last six months?
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Fortis Bailout
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Originally posted by Churchill View PostOk, please explain why banking and insurance group "Fortis" is being bailed out by the Netherlands, Belgium and Luxembourg to the tune of £9bn when last month Fortis announced it made £1.2bn profit in the last six months? -
Originally posted by Churchill View PostOk, please explain why banking and insurance group "Fortis" is being bailed out by the Netherlands, Belgium and Luxembourg to the tune of £9bn when last month Fortis announced it made £1.2bn profit in the last six months?
Last week the shares caved in and there looked like being a run on a bank across three countries. Must admit, I had an interest in the outcome as I’ve over 50k in my Fortis business account
What amazes me is that they got this sorted in 2 days – nothing here happens that quickly. I suppose it was the prospect of a French bank buying it that focused their minds!
As well as the bailout they are flogging off the ABN Dutch business for 10bn having ‘paid’ 24bn for it last yearComment
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