French President Francois Hollande said on Wednesday he will raise concerns about a possible $10 billion-plus U.S. fine on BNP Paribas that he considers "disproportionate" with his U.S. counterpart Barack Obama. France's biggest listed bank is under investigation by U.S. authorities over whether it evaded U.S. sanctions, mainly on Sudan, Iran and Syria, between 2002 and 2009, and Hollande said he would tackle Obama on the potential fine when they meet on Thursday. "I don't know if he wants to talk about it, but I will talk to him about it," Hollande told reporters during a trip to Warsaw. [Reuters]
Greek Prime Minister Alexis Tsipras Isn't Going To Literally Say "Angela Merkel And Her Cohorts Are Trying To Blackmail Me"
He's still going to throw the word "blackmail" down *and* lay it on thick about how the founding fathers of the EU would be extremely disappointed about the current situation.
Bonus Watch '12: BNP Paribas Employees Have More Grievances To Air
From the front lines: "Your BNP bonus story from earlier today missed the part that has BNP employees really rattled. The 4th and final deferred payment of the 2008 "retention bonus" was not paid out. It covered most employees who were here in 2008 and was pulled back because the bank fixed income department didn't cover ROE target. We were told on Feb 22 that we did not reach the 14.5 % target. ROE calculations are not clean and employees (including Sr. Management) asked to see exactly what was included in the calculation. The bank refused. Despite frequent attempts they're adamant about not releasing ROE calculations and acknowledged that we had 2.8 BB € write down on Greece. The CMIP plan covered hundreds of BNP employees. Clawbacks make sense but it's never happened on such a wide scale with so little information. What does 2008 comp have to do with the 2012 European crisis? Absolutely nothing....it was like stealing."