Laurent Fabius may be right to rail against BNP Paribas' £6bn fine

A Billion Dollars

Until we see the details of the case, it is impossible to judge whether a $10bn (£6bn) fine for BNP Paribas would be unreasonable, as Laurent Fabius, the French foreign minister, contends.

But on the face of it, he may have a point. It would not be a surprise if US authorities, stung by criticism of their soft treatment of banks' misdemeanours, have decided a French bank, as opposed to a Wall Street one, is an easy target.

Standard Chartered, which has never lost an air of grievance at having to pay $670m in 2012 to settle allegations of sanction-busting, should count its blessings. It may have got a bargain.

Powered by article was written by Nils Pratley, for The Guardian on Tuesday 3rd June 2014 20.58 Europe/London © Guardian News and Media Limited 2010


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