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French banks reluctant to fund Marine Le Pen’s presidential campaign



The head of French “Front National” needs €20 million for presidential campaign.



02.Jan.17 10:06 AM
By Anna Tuzova
Photo Toinnov.com

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French banks reluctant to fund Marine Le Pen’s presidential campaign
The head of French party “Front National”, French presidential candidate Marine Le Pen will take loan amounting to €6 million from her father’s fund, according to Bloomberg. The Vice President of the party Florian Philippot has stated that French banks refused to fund Marine Le Pen’s presidential campaign. According to him, “the fundamental issue is that the French banks refuse to lend and choose candidates for the presidential election they finance and the ones they don’t”, as he said in his interview to Europe 1 radio channel. €20 million is needed for Le Pen’s presidential campaign, as noted by Bloomberg.  The first round of presidential elections in France is scheduled for 23 April.    

The Deposit Insurance Corporation (DIC) filed a court petition requiring exact the penalty, which the First Czech-Russian Bank has lent to Marine Le Pen’s party “The Front National”. As the DIC presented the issue, “claims under the credit agreement were assigned to a third-party obligor before the date of withdrawal of a license to conduct banking operations”. Insurers are challenging the deal.

The FCRB has lent €9 million to the “Front National” party in the late November 2014. According to the treasurer of political organization Wallerand de Saint-Just, however right were seeking for source of funding, they have been refused by European banks. The loan in the FCRB was the reason for many Marine Le Pin prosecutions by Russia, which were denied by the politician. The FCRB’s license had been withdrawn 1 July 2016.   



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