Scandale a la bourse. (Paris stock market scandal)
Economist (US), The, June, 1988
PARIS
DURING the past six months Paris has had enough financial scandals to scar its chosen image as the coming financial centre in continental Europe. The last thing it needed was another, particularly one involving the Paris bourse. On June 10th the bourse's chairman, Mr Xavier Dupont, announced that the exchange's reserve fund, set up to protect investors from default and fraud, had lost more than FFr500m ($85m) at the end of 1987. The loss-nearly a third of the fund's total value-was the result of speculation in France's new futures and options markets for government bonds.
Mr Dupont and his chief executive, Mr Philippe Cosserat, have resigned. The new chairman, Mr Regis Rousselle, has called for FFr1 billion from the bourse's brokers to top up...
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