Agence France-PresseFebruary 1, 2013 04:30
The Dutch state on Friday nationalised troubled banking and insurance group SNS Reaal, at a cost of 3.7 billion euros, Finance Minister Jeroen Dijsselbloem said.
"Today, SNS Reaal has been fully taken over by the Dutch state. I have nationalised SNS Reaal," Dijsselbloem told a press conference, after a deadline expired to find a solution for the bank.
"With the Dutch Central Bank's deadline passing last night and without finding a solution there was an immediate and dangerous situation for financial stability," Dijsselbloem said.