Tough time

Over the last month, the media have been aghast at the pace of bank collapses. Foul winds have blown in from the US and reached Europe, hitting the largest countries spectacularly. This time the crisis collided with Benelux head-on as failed insurer and banker Fortis was nationalised by the region's three governments, while Belgium and France rescued Dexia Bank. Last year, investor confidence remained strong in Benelux and they perceived that the region was immune from the global crisis