The unbelievable saga concerning Fortis, a former jewel in the Belgian crown, continues.
The group has been led to its demise by a bunch of megalomanious visionaires who, enthroned in their luxurious board rooms, had lost all touch with reality. Thanks to them, and partly thanks to their own greed, tens of thousands of shareholders have lost their stake. That is a dramatic event for many of them, but any shareholder worth his salt knows that can happen. And the famous Belgian dentist does not put all his nest eggs in one basket.
Some equally megalomanious lawyers have seen the potential for their moment of eternal glory and do whatever they can to block the solution which had been found by our government. In this legal battle, once more it is apparent that legal actions and reactions are not always just, equitable or even smart.
Apparently, and understandably, our government will not or can not not budge, but the "defensors" of the shareholders shall be satisfied only if the fire hits the dynamite (I had a more graphic expression in mind). Then there will be millions of victims, including all the customers of the bank and all Belgian taxpayers.
In times of war, a government can take all measures needed to save the country and its population. In my view, we are at war now. But I wonder whether our government has any guts left.