Shares in banking and insurance giant ING jumped around 25% on Monday after the group said it will receive a 10 billion euro ($13.4 billion) capital injection from the Dutch government.
In exchange for the cash, the government will receive non-voting securities paying 8.5% interest or more as well as the right to nominate two new members of the group’s supervisory board.
What’s next? Government-run banks and insurance institutions? The nationalization of the financial markets?