By Prensa Latina
Paris : Tension over the financial scandal in French bank Societe Generale has subsided a bit the last few days, but the bank remains very much under the eyes of French economic authorities.
Rumors of a public acquisition offer by SocGen’s rival BNP Paribas the most powerful French bank since the fiasco caused by the 7.35 billion dollar fraud, but a BNP Paribas source said the volatility of the markets precludes analysis now.
Societe Generale, SocGen, is trying to recover while investigations continue to point at bad management in domestic control of the bank.
The Bank of France said Wednesday it had sent SocGen a warning note because it had not destined enough resources to prevent the risks, and Bank of France President Christian Noyer said insufficient resources were dedicated to domestic control, particularly human resources.