Michel Sapin, Frances Minister of Finance, has confirmed that a decision will be made "within days" on whether Societe Generale’s $2.44bn tax deduction to subsidise losses made by trader Jerome Kerviel will be reclaimed. The French government is expected to announce its position in the coming days.
Michel Sapin, Frances Minister of Finance, has confirmed that a decision will be made "within days" on whether Societe Generale’s $2.44bn tax deduction to subsidise losses made by trader Jerome Kerviel will be reclaimed. Analysts have warned however that a reclaim of the governmental aid would put the bank’s dividend at risk as well as affect its capital adequacy ratios.