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BNP Paribas says crisis will strengthen euro -report

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Sunday, December 18, 2011 9:14:21 AM
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BNP Paribas says crisis will strengthen euro -report


MILAN | Sun Dec 18, 2011 8:14am EST
Dec 18 (Reuters) - France's BNP Paribas has made no emergency planning for a possible euro zone break up and instead expects the crisis to strengthen the single currency, its chairman said.

"We are convinced the euro will come out of the crisis stronger than before," Baudouin Prot said in an interview published on Sunday by Italian business daily Il Sole 24 Ore.

Asked about prospects France could lose its triple-A rating, he said it was important that France put its accounts in order, and ensured growth.

"Life continues beyond rating agencies' decisions," he said.

On concerns French banks could be forced to ask government help, Prot said he was not worried. BNP Paribas will meet the requirements set by the European Banking Association and has never had problems with funding, he added.

"BNP will continue to finance the economies of its four domestic markets, because it wants to and has the resources," he said. (Reporting By Danilo Masoni; Editing by Jon Loades-Carter)




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