Atop Dexia tower, one of the steel and glass structures that dominate Paris’ north-western skyline, Pierre Mariani is honing his arguments to secure European Commission approval for last year’s €6.4bn bail-out of Dexia, the Franco-Belgian bank he heads.

Neelie Kroes, EU competition commissioner, who approved dozens of rescue packages at the height of the financial crisis, is now scrutinising restructuring plans to see they do not distort competition. She is expected to decide on Dexia before the end of the year.