Skip to main content

BNP Paribas: A Great And Very French Victory

  • Author:
  • Updated:

France’s Finance Minister is celebrating bank and country’s come-from-behind win against wicked American prosecutors, in which BNP has to part with less than $9 billion and gets to stick around, and the stupid trans-Atlantic barbarians have to settle for just $8.9 billion and an admission that doing business with the Iranians is not acceptable.

The settlement reached between BNP Paribas and U.S. authorities over a sanctions busting case will preserve the future of the lender, the finance ministry said on Tuesday.

French Finance Minister Michel Sapin also said in a statement that the country's biggest listed bank "will still be able to finance economic activity (in France) in a satisfying way."

France says BNP-U.S. deal preserves bank’s future [Reuters]
BNP Paribas Admits Guilt And Agrees to Pay $8.9 Billion Fine to U.S. [DealBook]