Sarkozy urges banks to lend more
31/10/2008 17:28
French President Nicolas Sarkozy yesterday urged banks to ease money
supply for enterprises while benefiting from a government rescue plan to deal
with the current financial crisis.
Speaking during a meeting with bank
representatives and regional financial officials at the presidential residence
in Paris, Sarkozy said not only should the government adhere to its promise to
help banks and financial institutions get out of the current crisis, but
financial institutions should also keep their promise of not cutting off lending
to businesses.
"I am calling on banks to accept their responsibilities,"
Sarkozy said.
With growing signs that the crisis is spilling over into the
real economy, French enterprises, especially medium- and small-size ones, still
face lending problems.
Sarkozy said Rene Ricol, the former head of the
International Federation of Accountants who has been named as national credit
negotiator, should not hesitate to expose unacceptable credit restrictions and
the names of institutions engaging in such practices.
The French government
has put forward a package of 360 billion euros (US$490 billion) to keep banks
from going bankrupt.
Under the package, the six biggest banks in France will
receive government aid worth 10.5 billion euros (US$14 billion).
Xinhua
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