SocGen case separate from credit crisis: Sarkozy

Fri Jan 25, 2008 6:09am EST
 
[-] Text [+]

NEW DELHI (Reuters) - French President Nicolas Sarkozy sought to provide reassurance after the scandal at Societe Generale, saying the crisis was not related to turmoil on world markets and the French financial system was solid.

"You can't assimilate an internal problem at Societe Generale, which is the result of a large scale internal fraud, with what has happened in the international financial system and which comes from the United States," he told reporters at a news conference during a state visit to India.

He said the results of the Societe Generale scandal "do not affect the solidity and reliability of the French system."

(Reporting by Emmanuel Jarry; writing by James Mackenzie)

 

Featured Broker sponsored link

Editor's Choice

A selection of our best photos from the past 24 hours.  Slideshow 

Most Popular on Reuters

  • Articles
  • Video
Bernd Debusmann
A good war gone bad

In the protracted Washington debate over the war in Afghanistan, the most concise analysis comes from America's top soldier: "If we don't get a level of legitimacy and governance (there), then all the troops in the world aren't going to make any difference."  Commentary