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Belgian PM proposes resignation | Belgian PM proposes resignation |
(20 minutes later) | |
Belgium's Prime Minister Yves Leterme has proposed that his government resigns amid a row over the break-up of the stricken Fortis bank. | Belgium's Prime Minister Yves Leterme has proposed that his government resigns amid a row over the break-up of the stricken Fortis bank. |
The cabinet has held an emergency session and backed Mr Leterme's move. | |
He must now present the proposal to King Albert II, but correspondents say the monarch may not accept it. | |
Earlier, Justice Minister Jo Vandeurzen quit after Belgium's highest court said the government had tried to influence a court ruling on the Fortis case. | Earlier, Justice Minister Jo Vandeurzen quit after Belgium's highest court said the government had tried to influence a court ruling on the Fortis case. |
Judges last week blocked the government's bail-out and sale of its stake in Fortis to French bank BNP. | Judges last week blocked the government's bail-out and sale of its stake in Fortis to French bank BNP. |
They said shareholders in the company must be allowed a say in the deal. | They said shareholders in the company must be allowed a say in the deal. |
Mr Leterme's spokesman, Peter Poulussen, confirmed the decision had been approved by the cabinet. | |
"The cabinet has decided to tender the resignation of the entire government to the king," Mr Poulussen said. | |
Under Belgium's constitution the king must decide whether to accept the resignation. | |
Mr Leterme previously tendered his resignation in July after failing to break a political deadlock among the country's linguistic groups. The king refused to accept the resignation at that time. | |
Mr Poulussen declined to say when the prime minister would go to the king this time around. | |
Court report | |
In its judgement earlier on Friday, Belgium's Supreme Court concluded that there were "undoubtedly significant indications" pointing in the direction of interference with the judiciary over the Fortis case. | |
The Brussels appeal court last week ruled in favour of 2,200 shareholders who wanted more say in the future of Fortis. | The Brussels appeal court last week ruled in favour of 2,200 shareholders who wanted more say in the future of Fortis. |
That ruling froze the sale of most of Fortis to France's BNP Paribas, which was supposed to be finalised this week. | |
Shareholders were left with practically worthless stakes after the governments of Belgium, the Netherlands and Luxembourg stepped in to rescue Fortis. | Shareholders were left with practically worthless stakes after the governments of Belgium, the Netherlands and Luxembourg stepped in to rescue Fortis. |
Fortis has been among the banks worst-hit by the credit crunch, which left it desperately short of cash and needing help from the three governments. | Fortis has been among the banks worst-hit by the credit crunch, which left it desperately short of cash and needing help from the three governments. |