World

Belgian government falls on bank bailout

by mike_yvr | December 19, 2008 at 12:56 pm

542 views | 41 Recommendations | 5 comments

The crisis in financial markets took down speculators, is tanking the real economy and now looks to have claimed its first national government as a victim.

Belgium's government collapsed on Friday after a top court found signs that it had sought to sway a legal ruling on the future of stricken bank Fortis.

Belgian Prime Minister Yves Leterme "put the (resignation) proposal to the cabinet and they have agreed to it," Leterme's spokesman Peter Poulussen said by telephone.

Under the constitution, King Albert must decide whether to accept the resignation. In July, Leterme had tendered his resignation after failing to break a political deadlock among the country's linguistic groups, but the king refused it it.

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Amy Judd

at 15:39 on December 19th, 2008

It's so odd to me that a whole parliament can just resign...

matte

at 19:06 on December 19th, 2008

it is unclear if it is just the PM who resigned - that is the way the snippet reads...

mike_yvr

at 19:13 on December 19th, 2008

As I understand it from an AP story the PM has proposed that the whole government step down and then under the Belgian constitution the King decides whether or not to accept the resignation.