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France hits back at mooted US mega fine on BNP Paribas

France, trying to minimise US penalties against BNP Paribas on charges of breaking sanctions, said that a reported $10 billion fine was excessive and warned it could damage trans-Atlantic trade talksFrance, trying to minimise US penalties against BNP Paribas on charges of breaking sanctions, said on Tuesday that a reported $10 billion fine was excessive and warned it could damage trans-Atlantic trade talks. The remarks from French Foreign Minister Laurent Fabius ramp up French concern at the size, manner and likely effects of the expected fine that could be imposed on the French bank. The New York Times newspaper 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 ($10.1 billion), 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.

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