Breakingviews: Big guns arrive for BNP Paribas battle
Tuesday, June 03, 2014 - 02:48
June 3 - The French government said it will defend BNP Paribas against the ''unreasonable'' $10 bln penalty. Breakingviews explains the increasing political interest in BNP’s treatment by the U.S. justice system
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Francis Ford Center has waded into the evening and he popped up pregnant by the end saying the potential candidate in dollar fine is unreasonable joining me now is Dominic at it from breaking these. Dominique. Could -- with him. Well I think is very hard at the moment to see why any of BNP -- get a fine of ten billion dollars if you think about it I mean some of Charlton the UK bank. Let's find far less US sanctions violations. A few years ago it was -- about 700 million dollars this is clearly ten billion. Don't install a number of being talked about as many multiples of say it's hard to see why they would be fine so much more of course say. May have done something far more egregious we we don't know yes and there is a sense that. Is following keeps being increased. Via media leaks Susan -- that political save Iraq's human. Lacey -- there are things going on on both sides of the Atlantic so removed from the US sides. This criticism. From the press certainly have. Recent years that US authorities failed to indict. And prosecute any individuals that banks but it got beat Lehman Brothers so Bank of America Merrill Lynch. And so therefore. There was this lost if you like from the regulates -- in the authorities. To make sure some people. What were prosecuted and sent me to -- off to the banks now just to prove that no corporation a bank is too big to. Two and -- to jail and now -- perhaps there will be some individuals that BNP Paribas that also have to leave us as part of this. Being patient is of course have taken -- train well what does it mean for France's economy if anything until. Well I think. Is how to nominate you colts FA BS the foreign minister from saying that this could. Home lending to you French companies and -- can be a problem -- France's economic recovery I'm not sure I see. That is a huge concern that I mean I see that if you were. I French politician that's one thing that you what you gonna try and actual. It doesn't come today. If you count and on the other thing that we have to negatives of course. That there is an amendment. At a trades trade talks going on between the year in the US. -- -- -- -- This could damage stuff. Thank you and sent -- and yet from breaking views that. Full agenda pressing financial inside sports -- US breaking the show every day twelve plus he east and seventeen cents EP ST. I'm nineteen on this its choices.
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