SNS Reaal: the latest European bank bailout

LONDON (ShareCast) - Even as market tension eases off, problems in the European financial sector continue.

The latest victim is the Netherland's fourth-largest bank, SNS Reaal, that had already received €750m in 2008.

Today, Dutch Finance Minister and future Eurogroup Chairman Jeroen Dijsselbloem decided to nationalise the ailing financial institution.

He expects the operation to cost €3.7bn and admitted that the bailout would "inevitably" hit the state budget deficit.

JM