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

|By:, SA News Editor

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".