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Tuesday, May 3, 2005
The Franco-Belgian bank Dexia has stated that it intends to extend into Southeastern Europe, especially Romania, Bulgaria, and Turkey. Axel Miller, Dexia's operations director, said the bank is interested in taking over some banking units in these countries in order to develop its network.
Dexia already has a subsidiary in Slovakia, which will be used as a base for further extension in the region. The Franco-Belgian bank has already organised a team of experts who work in Poland to submit a request for a banking license in Romania.
Bulgaria and Romania signed their Accession Treaties for the European Union in April 25, and are set to join the EU in January 1, 2007. This, along with economic factors, such as a more liberal fiscal policy in Romania, have given rise to a sharp increase in foreign investment in the past few years. Turkey, which is a European Union candidate country but which has not yet started accession negotiations, has recently opened up to foreign investment due to its stabilising economy and well as its large market.
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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
