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Belgium to demand 500 mln euros from bailed-out banks: ministers


Belgium is set to demand at least 500 million euros (735 million dollars) from its bailed-out banks in a bid to claw back money handed out in the depths of the financial crisis, ministers said Sunday.

"Now let the banks pay for the crisis that they have caused," Deputy Prime Minister A Deputy Prime Minister or Vice Prime Minister is, in some countries, a government minister who can take the position of acting Prime Minister when the real Prime Minister is temporarily absent.  Laurette Onkelinx told a conference of her socialist party Socialist party, in U.S. history, political party formed to promote public control of the means of production and distribution. In 1898 the Social Democratic party was formed by a group led by Eugene V. Debs and Victor Berger. .

"That can't just be symbolic. The figure of 500 million euros has been mentioned. For us, that is a minimum," she said.

Development Cooperation Minister Charles Michel Charles Michel was an American ophthalmologist best known for publishing the first clinical report of successful electrology in 1875.

Michel was practicing in St. Louis, Missouri when he began using a battery-powered needle epilator to treat trichiasis (ingrown eyelashes) in
 also warned banks they would face demands to pay back large sums.

"We won't be happy with just several hundred million euros," he told public television channel RTBF RTBF Radio Télévision Belge Francophone (French-Speaking Belgian Radio and Television) , echoing his colleague's remark that "500 million is a minimum."

Following the collapse of the bank Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking.  in September 2008, Belgium used state money to rescue Belgian-Dutch bank-insurer Fortis, Franco-Belgian bank Dexia, Belgian bank KBC KBC Kenya Broadcasting Corporation
KBC Kaun Banega Crorepati (Indian TV show)
KBC Koahnic Broadcast Corporation (Anchorage, Alaska)
KBC Keyboard Connector
KBC Kill Before Capture
, and Belgian bank-insurer Ethias.

The government injected tens of millions of dollars into the ailing financial institutions and made major guarantees to the public, moves which caused the country's deficit to inflate.

Neither minister gave details on Sunday about the way the money would be handed back, or over what period.

Belgian news agency Belga reported the money to be paid back would form part of the 2010 budget, which the government is currently preparing.
Copyright 2009 AFP Global Edition
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Author:AFP
Publication:AFP Global Edition
Date:Oct 11, 2009
Words:226
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