French government on the defensive over EADS scandal

0 Comments | AFP, October, 2007

PARIS (AFP) — The French government denied on Thursday any shady involvement in an alleged massive insider trading scandal at aerospace giant EADS that has dealt a fresh blow to troubled plane maker Airbus.

"It goes without saying that the state was not a party in any alleged scheme," Prime Minister Francois Fillon told parliament after a Senate committee called hearings into the scandal.

"The allegations directed against several EADS leaders are very serious," said the prime minister. "That is why we must exercise restraint in our comments and respect the judicial process."

Opposition Socialist leader Francois Hollande said France could face "a state scandal" over allegations that 21 top EADS executives and two corporate shareholders sold shares worth 90...