PDA

View Full Version : France threatens to seize banks, German bail-outs escalate



mick silver
4th November 2008, 20:11
France threatens to seize banks, German bail-outs escalate
The banks have got to open up credit to business: they have the means to do it," said prime minister Francois Fillon, accusing lenders of hoarding cash. "We don't think the banks are stepping up to task as necessary. We can withdraw the credit that we have extended to them under the state's contract with the banks, and that will put them in difficulty. At that moment the question arises whether we should take an equity stake, change their managers, and assume control over their strategy."

Speaking on French television, he warned: "Broadly speaking, we'll be able to judge over the next 10 days whether they are playing the game as they should, or not."

http://www.telegraph.co.uk/news/worldnews/europe/france/3374512/France-threatens-to-seize-banks-German-bail-outs-escalate.html