As long as you’re not a shareholder, the Dexia website is a hoot – at least until it is taken down and replaced by the internet equivalent of martial music. Its slogan is right up there with the likes of “global world” or “you can bank on us”. “Together to the essence” may have a meaning, but it eludes me. “Together to the end” would be more appropriate as the French and Belgian governments prepare to carve up the corpse and take the parts home for a decent burial.

Except that the phrase “Belgian government” is almost as empty of meaning, since, strictly speaking, there isn’t one. Last year’s election result was a fragmentation bomb for Belgium’s politicians, and they are making do with a “caretaker” in the previous prime minister Yves Leterme. He’s signalled that he’s off to become No2 at the OECD before the end of the year. Stiffing the Belgian taxpayer with the follies of Toxia could turn out to be his last significant act. Read more