France presses bank to dump besieged chief over trading

Article Abstract:

The French government has indicated it wants to keep Societe Generale S.A. under France-based ownership, fending off initial interests of foreign entities in buying the troubled bank. Societe Generale suffered a $7.2 bil loss due to unapproved trades by employee Jerome Kerviel. However, the government and the bank's board are expected to request the resignation of co-Chief Executive and Chairman Daniel Bouton.

Commercial Banks, Financial management, Executive changes & profiles, Banking industry, Officials and employees, Finance, Appointments, resignations and dismissals, Company financing, Societe Generale S.A., Bouton, Daniel

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Sarkozy letter to Merkel reflects concerns in EU

Article Abstract:

Nicolas Sarkozy, president of France, sent a letter to Chancellor Angela Merkel of Germany urging European nations to closely watch for market risks that might compromise economic development. The letter, which Sarkozy copied to leaders of the Group of Seven nations, was prompted by growing concerns over credit market problems.

Europe, Government expenditures, France, Economic Programs, Administration of Economic Programs, Economic aspects, Economic policy, Political aspects, European Union, European cooperation, Sarkozy, Nicolas

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