France’s Towns Demand Rescue From ‘Time Bomb’ of Dexia Loans
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French towns from Asnieres to Sainte-Etienne are calling on President Francois Hollande’s government to save them from about 10 billion euros ($13 billion) in Dexia loans whose risks they say weren’t made clear.
Sitting on debt pegged to foreign interest rates or currencies, many troubled municipalities are struggling to service their loans and clamoring for help from the state.