BRUSSELS, Belgium - Belgium will guarantee the safety of all retail deposits at Fortis NV, a leading politician said Sunday, as top European financial officials gathered in Brussels to discuss the troubled bank.

Fortis named its third chief executive officer in as many months on Friday after the company's shares tumbled to 5.18 euros ($7.56), their lowest level in more than a decade, on insolvency fears. They have lost more than three-fourths of their value in the past year.

Phones at the bank and insurer went unanswered Sunday.

Officials including European Central Bank PresidentJean-Claude Trichet, EU Competition Commissioner Neelie Kroes, the Dutch and Belgian finance ministers and national bank presidents were meeting Sunday night in Brussels, a spokesman for the Dutch Finance Ministry said.

Fortis has dual headquarters in Brussels, and Utrecht, Netherlands.

Separately, Marianne Thyssen, leader of Belgium's Christian Democrats — one of the partners in a shaky governing coalition — said offering deposit guarantees was necessary to restore faith in Fortis, the country's largest bank and largest private employer.

She told VRT television Sunday that "the current government stands behind, we guarantee that savings accounts are insured for 100 percent."

Under Dutch and Belgian law, only the first 20,000 euros ($29,000) in bank accounts are insured.

Fortis denies any imminent solvency problems, but it has been in trouble since it took part in a three-bank consortium last year that acquired ABN Amro in a 70 billion euro deal that was the largest takeover in the history of the banking industry.

Fortis paid 24 billion euros for its share of ABN, but now says it needs around 5 billion euros ($7.3 billion) to maintain its target financial ratios when it integrates ABN's Dutch retail operations — the largest in the Netherlands — next year. In the meanwhile, consortium leader Royal Bank of Scotland PLC is ABN's nominal owner.

Analysts have been skeptical of Fortis' assertions it can sell assets or issue debt to raise the money. A new plan Friday to sell up to 10 billion euros ($14.6 billion) in assets if necessary failed to ease uncertainty.

Leterme said Friday there was no reason for panic or for accountholders to withdraw money after Fortis said clients have withdrawn about 5 billion euros since January.

Various solutions to Fortis's problems have been proposed. Analysts have tapped French banking giant BNP Paribas as a possible buyer. Fortis could also receive a cash injection or a loan from or backed by Belgium's national bank, or the European Central Bank.

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