Ex-Dexia boss nominated for key Belgian state role sparks criticism

Belgian liberal party leader Georges-Louis Bouchez (MR) has nominated former banker Axel Miller to become chairman of the federal investment body SFPIM. The move has prompted strong political backlash.

Bouchez announced the move on Wednesday, praising Miller’s experience in finance and politics. He said Miller is well suited to turn government strategy into effective economic management.

If approved, Miller would oversee major state investments and help guide the planned partial privatisation of Belfius. The Belgian government decided last year to sell around 20% of the bank.

However, the nomination is controversial. Miller was chief executive of Dexia during the 2008 financial crisis, when the bank collapsed and required billions of euros in taxpayer support. Belfius later emerged from the Belgian part of Dexia.

Green party MP Meyrem Almaci strongly criticised the proposal, calling it “outright perverse”. She argued it is inappropriate for a former Dexia boss to oversee the future of Belfius, given the bank’s history.

Almaci urged the government to reject the nomination and called on Miller to withdraw. She also plans to question Finance minister Jan Jambon on the issue.

^{© BELGA PHOTO LAURIE DIEFFEMBACQ}