French crypto investors file complaint against Binance over 2.4m-euro losses

Finance — Investigation

A group of 15 French cryptocurrency investors have filed a legal complaint against Binance, the world’s largest cryptocurrency exchange, which they accuse of marketing its services in France before it received official approval to do so, of using misleading commercial practices and receiving the proceeds of fraud. The complaint by the group, who claim losses of close to 2.4 million euros in transactions via the platform, is the first of its kind in France involving the highly speculative and volatile sector of digital assets. Laurent Mauduit reports.

How financiers feed on Europe's cash-strapped football clubs

Corruption — Investigation

Football has become a new playing field for financial institutions preying on debt, as illustrated by documents from the whistle-blowing platform Football Leaks and analysed by the European journalistic consortium European Investigative Collaborations (EIC), in which Mediapart is a founding member. In one example, a British company called XXIII Capital had bought up 73 million dollars’ worth of debts resulting from transfers of players in England, France, Italy, Spain and Portugal. These were then included in a financial product offered on Wall Street and subsequently on the stock exchange of the Caribbean tax haven of the Cayman Islands. Michael Hajdenberg, Michel Henry and Yann Philippin report.

France makes strong bid for London's banking business

France — Link

Prime minister Manuel Valls tells French finance leaders he wants Paris to be ‘the financial capital of the future’ after Brexit.

France seeks new powers to monitor terror suspects’ bank accounts

France — Link

Government wants new measures to give anti-money laundering unit Tracfin access to finances of those listed on a database of wanted people.

France offers support for Greece amid bailout tensions

France — Link

After Paris talks with Greek counterpart, French finance minister offered support for new timeframe or terms but not cancelling the debt.

Greek finance minister to meet French counterpart this weekend

France — Link

Yanis Varoufakis will have a meeting with Michel Sapin in Paris on Sunday ahead of plans by Greece to renegotiate its debt burden.

France gets key economic post in new Juncker European Commission

France — Link

Former French finance minister Pierre Moscovici will take up the important economic and monetary affairs portfolio despite some German misgivings.

The rich stars feeding off a subsidised French cinema industry

France — Link

Leading French film producer lambasts huge fees paid to the country's cinema stars whose demands are largely met via subsidies paid to the industry.

Fighting the organised crime of tax evasion

International — Analysis

Earlier this month it was revealed that French tycoon Bernard Arnault, chief executive of luxury goods firm LVMH, the wealthiest person in France and the fourth wealthiest worldwide, has applied for dual Belgian nationality. The French conservative opposition was quick to cite it as an example of the flight of capital that will follow higher taxes the government is to impose on the country’s top income earners, while President François Hollande decried Arnault's lack of patriotism. Mediapart Editor-in-Chief Edwy Plenel sets out here how tax evasion has become a colossal and insitutionalised business at the centre of the economy. Fighting it has never been more urgent, yet little effort - if any - is being made to prevent it or to sanction those who are bleeding society of vital resources.  

Hollande Paints Bleak Picture of French Economy, Finances

France — Link

New president says France's stagnant economy has been ravaged by the euro crisis and a decade of mismanagement.