French foreign minister warns of jeopardizing U.S.-E.U. trade treaty


French Foreign Minister Laurent Fabius has warned today that the controversy between U.S. courts and BNP Paribas over ignoring American sanctions - resulting in a possible $10B fine, can damage the trade treaty talks between the U.S. and the E.U.

"This treaty can only exist on the basis of reciprocity," says Fabius. "If, in the case of a European bank, they were behaving in a unilateral way, and not on the basis of reciprocity, that could have negative consequences."

Yesterday, President Obama did not discuss the case with French President Hollande, declaring that he does not "meddle in prosecutions".

Comments (2)
  • Patent News
    , contributor
    Comments (1464) | Send Message
     
    who cares about french trade? lol they are in a recession. you can be 100% sure if they had done with an american bank there would be big fines in france. what about google and the right to be forgotten law imposed by the french?
    6 Jun 2014, 05:14 AM Reply Like
  • citigroup regnum
    , contributor
    Comments (94) | Send Message
     
    Similar to North American Free Trade Agreement... Transatlantic one would also have trade disputes resolution center... Probably.
    6 Jun 2014, 07:20 AM Reply Like
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