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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. | |
The suggestion is being discussed at an emergency cabinet meeting. | |
But correspondents say that even if Mr Leterme offers his resignation, King Albert II may not accept it. | But correspondents say that even if Mr Leterme offers his resignation, King Albert II 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. | |
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. |
"The prime minister has proposed the resignation of his government," said spokesman Peter Poulussen, as the emergency cabinet meeting was called. | |
Appeal court | |
The Brussels appeal court last week ruled in favour of 2,200 shareholders who wanted more say in the future of Fortis. | |
The 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. | |
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. |