BRUSSELS (Reuters) - The European Commission said on Wednesday it had approved a four-month extension of temporary state guarantees to Franco-Belgian Dexia (DEXI.BR).
France, Belgium and Luxembourg have provided up to 55 billion euros ($71.29 billion) of guarantees to cover the funding of Dexia, which was bailed out for a second time in three years in October 2011.
The EU’s approval was due to expire at the end of September. It will now run until January 31, 2013. ($1 = 0.7715 euros)
Reporting by Ethan Bilby, writing by Philip Blenkinsop