The European court ruled that Belgium cannot compensate Arco investors under the full protection afforded to savers for the first 100,000 euros on their account. The Belgian government last week set up a taskforce to come up with an alternative compensation package. Arco investors should see their compensation in 2018 at the latest, nine years after Arco, the financial arm of the Christian Workers’ Movement, and high street bank Dexia failed.
A resolution of this issue is promised in the government's coalition agreement. Belgian finance minister Van Overtveldt stressed that any settlement must be entirely legal.