Benelux authorities part nationalise Fortis

The governments of Belgium, Luxembourg and the Netherlands have bought sizeable stakes in Fortis, Belgium's biggest lender, after capital fears triggered a cull in shares.

The Belgian, Luxembourg and Dutch authorities agreed over the weekend to invest €11.2 billion ($16.2 billion) in the beleaguered banking and insurance group, which will also sell its interest in ABN Amro, its Dutch rival.

A spokesperson for the European Central Bank confirmed to Central Bank News that Jean-Claude Trichet, t