The Belgian government on Monday night became the first national administration to fall as a direct result of events linked to the global financial crisis, reports the FT. Belgium’s King Albert II formally accepted the resignation of the coalition government led by Yves Leterme, prime minister, after he offered the government’s resignation three days ago amid accusations that officials had tried to influence an appeal court ruling that blocked the dismantling of Fortis, the troubled financial services group. The fallout underlines the uncertainty over the €14.5bn sale of Fortis to BNP Paribas. Bloomberg reports Tuesday that the King appointed Wilfried Martins, a former premier, to begin consultations on forming a new government.

This entry was posted by Gwen Robinson on Tuesday, December 23rd, 2008 at 4:58 and is filed under Capital markets, People. Tagged with bnp paribas, fortis. Edit this entry.