Director of BNP Paribas resigns under
pressure from U.S.
Paris.—
Georges Chodron, chief operating officer of BNP
Paribas will step down June 30, amidst demands from
the U.S. that the French bank dismiss a dozen
directors.
 Washington
is threatening the French bank with a 10 billion
dollar fine and the suspension of its banking
operations in the U.S. for allegedly violating
sanctions imposed by the U.S. on various countries,
including Cuba, Iran and Sudan.
BNP
Paribas will sacrifice its director general under
pressure from the U.S. stated newspaper Le Monde,
while La Tribuna published an article titled,
BNP Paribas: heads start to roll.
Chodron,
was scheduled to retire September 30, but it was
demanded that his departure be moved forward to June
30, reported PL.
Le
Monde, citing the
Wall Street Journal, stated that New York based
banking regulator, Benjamin Lawsky, is also
demanding the dismissal of advisor Vivien Levy-Garboua.
The U.S.
sanctions against BNP have been rejected by the
French government, as well as diverse range of
directors and politicians. For Christian Noyer,
governor of the Bank of France, the fine is a threat
to the French economy and world financial system.
Washington’s decision has also stimulated the debate
on the violation of international laws. In its
attempt to impose its extra territorial laws on
foreign countries, the U.S. is undermining
international laws, stated former Minister of
Foreign Trade Pierre Lellouche.
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