France ties transatlantic trade talks to mooted US mega fine on BNP Paribas
Transatlantic trade talks under threat if Washington pursues US$10 billion fine imposed on French bank PNB Paribas, Foreign Minister Laurent Fabius suggests
France, trying to minimise US penalties against BNP Paribas bank on charges of breaking sanctions, said a reported US$10 billion fine was “unreasonable” and warned it could affect trans-Atlantic trade talks.
The remarks from Foreign Minister Laurent Fabius ramp up French concern at the size, manner and likely effects of the expected fine.
Meanwhile the reported that the governor of the Bank of France, Christian Noyer, had visited top US officials on the case in New York last week to warn that such a fine, equivalent to 7.4 billion euros, could have grave effects on the financial system.
President Francois Hollande has also recently raised concerns about a plea deal with the White House, the paper wrote.
In the first public comments by a senior French official on the high-profile charges that the bank broke sanctions against Iran, Sudan and Cuba, Fabius said in a television interview that the figure sought by the US was not justified.
“If there was a fault, then it is normal that there be a sanction, but the sanction has to be proportionate and reasonable. These figures are not reasonable,” he said.
