Dexia is a financial services group that was historically a major global player in public and project finance. Following significant losses during the 2008 financial crisis and the subsequent Eurozone sovereign debt crisis, the group was bailed out and dismantled. Since the end of 2011, Dexia has been in an "orderly resolution" process, managed and guaranteed by the States of Belgium and France. Its mission is no longer to engage in new commercial activity but to manage its existing portfolio of assets to extinction, thereby minimizing the cost and risk to its state guarantors and shareholders.