French Finance Minister Michel Sapin said euro area governments need to look at ways of bolstering the use of the euro in international transactions as a matter of “global balance.”
The remarks come a week after Paris-based bank BNP Paribas SA was slapped with a $8.97 billion fine by U.S. authorities for transactions carried out in dollars in countries facing American sanctions. The fine spurred debate in France about the right of the U.S. in extending its regulatory reach beyond its borders.
