Joaquín Almunia — Vice President of the European Commission responsible for Competition Policy
Conférence de presse / Bruxelles, 21-12-2012 — /europawire.eu/ —
Je suis heureux de vous annoncer mon intention de proposer à la Commission d’approuver le plan de résolution ordonnée de Dexia. Comme vous le savez, Dexia a été confrontée à des difficultés majeures en 2008 et avait bénéficié de plusieurs mesures d’aide approuvées par la Commission dans une décision conditionnelle en février 2010.
Après cette décision, Dexia s’est trouvée à nouveau en difficulté pendant la crise financière et a reçu des aides supplémentaires. Son “business model” s’étant révélé non viable, ses actionnaires, y compris la France, la Belgique et le Luxembourg, ont reconnu qu’une résolution ordonnée était inévitable.
Permettez-moi de vous rappeler toutes les mesures d’aide reçues par Dexia: 10,9 milliards d’euros de recapitalisation; une aide de 3,2 milliards d’euros pour les actifs dépréciés; en 2010 nous avions aussi autorisé 135 milliards d’euros de garanties et la garantie de refinancement que nous allons approuver dans la nouvelle décision s’élève à 85 milliards d’euros.
Nous nous approchons enfin de la clôture de cette très longue enquête. Nous avons réussi, au terme de la discussion avec les Etats Membres concernés, à trouver des solutions permettant de réduire le montant d’aides au minimum nécessaire, dans l’intérêt du contribuable, de limiter les distorsions de concurrence et d’assurer une activité commerciale future aux parties du groupe Dexia dont la viabilité à long terme peut être assurée. D’autre part, une partie importante du groupe Dexia fera l’objet d’une résolution ordonnée.
Plus concrètement, cela signifie que:
- Dexia elle-même fera l’objet d’une résolution ordonnée;
- Belfius mettra en œuvre un plan de restructuration permettant d’assurer sa viabilité à long terme;
- et Dexia Municipal Agency (DMA – qui aujourd’hui fait encore partie de Dexia) fera désormais partie d’une banque française de développement dont l’activité sera strictement limitée aux prêts au secteur public local français.
Sur cette base, je proposerai au Collège des Commissaires, pour adoption le 28 décembre 2012, une décision clôturant les procédures d’enquête et approuvant les mesures d’aide additionnelles comme compatibles avec nos règles, en tant qu’aides à la liquidation et à la restructuration.
Le plan de résolution ordonnée de Dexia permet d’éviter une liquidation désordonnée de Dexia qui aurait des effets négatifs importants sur la stabilité financière. Il permet de liquider de façon contrôlée la plus grande “bad bank” de l’Union européenne, comportant plus de 300 milliards d’euros d’actifs.
Belfius, vendue à l’Etat belge, coupera tous ses liens avec le groupe Dexia. Le plan de restructuration de Belfius restaurera sa viabilité à long terme tout en limitant les distorsions de concurrence et en assurant une participation appropriée de la banque elle-même aux coûts de la restructuration.
Enfin, Dexia Municipal Agency (DMA) sera vendue à un consortium d’acheteurs. Notre décision approuvera également la création en France d’une nouvelle banque de développement pour répondre à la défaillance de marché actuellement observée pour le financement des collectivités locales et des hôpitaux publics. La nouvelle activité sera développée par une nouvelle entreprise commune créée par la CDC et La Banque Postale, tandis que DMA refinancera l’activité de la banque de développement.
EN version:
I am very pleased to announce that I will propose to the Commission to approve the orderly resolution plan of Dexia. As you all know, Dexia has experienced major difficulties back to 2008 and had been the beneficiary of several aid measures that the Commission approved in a conditional decision in February 2010. After this decision, Dexia received more aid because of the difficulties it has been experiencing during the financial crisis. Its business model turned out to be unsustainable and thus, the shareholders, including France, Belgium and Luxembourg, recognised that an orderly resolution was inevitable. Let me remind you all the state aid received by Dexia: 10,9 bn euros in recapitalisation, an aid of 3,2 bn euros for impaired assets; in 2010 we also approved 135 bn euros of guarantees, and we will now approve in the new decision a refinancing guarantee of 85 bn euros.
We are finally approaching the closure of this long investigation. We managed to find solutions to minimise the amount of aid needed, to limit distortions of competition and to ensure future business activity for those parts of Dexia Group where long-term viability can be restored. On the other hand, large parts of the Dexia group will be resolved.
This means that:
- Dexia will undergo an orderly resolution;
- Belfius will implement a restructuring plan to ensure its long term viability;
- and Dexia Municipal Agency (DMA – currently still part of Dexia) will become part of a French development bank which will have a strictly limited activity aimed at lending to the French local public sector.
On that basis, I am planning to propose to the College of Commissioners for adoption on 28 December 2012 a decision closing the investigation procedures and approving these additional aid measures as compatible resolution and restructuring aid.
The orderly resolution plan of Dexia enables to prevent a disorderly liquidation of Dexia which would have substantial negative effects on financial stability. It allows for the controlled winding down of the largest bad bank in the EU (over €300 bn of assets).
Belfius, sold to the Belgian state, will cut all the links with Dexia group. The restructuring plan of Belfius will restore its long-term viability, while limiting distortions of competition and ensuring adequate burden sharing.
Finally, Dexia Municipal Agency (DMA) will be sold to a consortium of buyers. Our decision will also approve the creation of a new development bank to address the market failure that is currently observed in the funding of French collectivités locales and public hospitals. The new activity will be developed by a newly created joint venture between CDC and La Banque Postale, while DMA will refinance the activity of the development bank.
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