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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 (1312) | 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, 05:14 AM Reply Like
  • citigroup regnum
    , contributor
    Comments (41) | Send Message
    Similar to North American Free Trade Agreement... Transatlantic one would also have trade disputes resolution center... Probably.
    6 Jun, 07:20 AM Reply Like
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