Lehman impact on French banks will be limited

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French Economy Minister says the collapse of Lehman Brothers will have a limited impact on French banks.

16 September 2008  

PARIS -- The collapse of US investment giant Lehman Brothers will have only a "limited" impact on French banks, French Economy Minister Christine Lagarde said Monday.

Lagarde "is confident that all measures were taken to minimise the repercussions in France" of a decision by Lehman Brothers to declare bankruptcy, a statement from the economy ministry said.

"The exposure of French credit institutions to the Lehman Brothers group remains limited," she said.

"French authorities remain very vigilant regarding the consequences of Lehman Brothers and financial market developments in general on all financial institutions."

[AFP / Expatica]

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