Comment by mikkupikku
8 hours ago
Why does it need to be all French banks? The French government could establish a special class of bank for domestic business, that isn't subject to international pressure except pressure applied to the French government itself. They should be able to find a way that a judge in Europe, living in Europe, paying European taxes to European governments, paying rent to a European landlord, doesn't have to give a shit about what America thinks.
This is a tractable problem, except for the lack of political willpower to create a solution.
Sure, France could in theory create such a domestic bank. But it wouldn't be allowed to connect to any US based financial institutions or transfer funds through networks controlled by those institutions. This would be so limiting as to make it hardly worth the effort. Ultimately I expect that France will just try to wait out the current US administration.