U.S. must stop judicial 'extortion' of corporate Europe, French lawmakers sayPARIS (Reuters) - Europe should challenge the United States over its increasingly aggressive use of extraterritorial laws that have cost European companies - especially banks - billions in fines and other settlements, a French parliamentary report said. Still reeling from the $9 billion fine its biggest bank, BNP Paribas, had to pay U.S. authorities over violations of American sanctions against other countries, the French government has criticized in recent years what it considers the over-reach of the U.S. legal system. Paris’s main objections center on the U.S. Department of Justice’s broad interpretation of what it considers its jurisdiction. This sphere of influence can include transactions between non-Americans outside the U.S. where the U.S. dollar currency is involved. It can also cover deals and other actions taking place via the Internet using U.S. computer servers. “We consider that today’s situation amounts to abusive use of American law,” Karine Berger, a lawmaker from the ruling Socialist party told Reuters in an interview, calling the practices akin to “extortion”. “We ask France and Europe to let it be known to the United States that we will no longer accept this type of behavior.” In a non-binding investigative report last week, lawmakers from both the Socialist party and opposition conservatives said U.S. law appeared to be more punitive toward foreign firms than domestic ones. Although foreign firms accounted for only 30 percent of investigations opened by U.S. authorities between 1977 and 2014 under its anti-foreign bribery law, 67 percent of the amount levied in fines came from foreign companies, the report said. Since 2009, European banks such as HSBC and Deutsche Bank have paid about $16 billion to the United States over breaches of various sanction regimes. European firms have also accounted for 14 of the 15 biggest penalties, the report said. The report did not question U.S. regulators’ current prosecution of Deutsche Bank over mis-selling toxic mortgage securities before the financial crisis, since the actions took place in the United States. But it did say the DoJ had not taken account of the impact on the financial system that the $14 billion fine it sought from the German bank went on to have. Swiss bank Credit Suisse said on Sunday it has put five employees on leave while it investigates a tax-related matter. Swiss paper SonntagsZeitung reported that the move was connected to a U.S. probe of the bank’s Israeli unit over possible tax evasion. Berger said Europe’s response had not been forceful enough, and that both the European Union and individual member states should adapt their own legislation, which is why the report will be sent to counterparts at other EU parliaments. “There must be a legal rearmament in Europe, so we fight on equal terms with the United States in the field of economic competition,” Berger said.   The European Union should consider challenging parts of the U.S. sanction regime at the World Trade Organisation, the report said, citing a 1998 precedent when Europeans successfully forced the U.S. to back down over Congressional sanctions against Cuba, Libya and Iran that could have affected European firms. The EU should update a 1996 ban on European firms complying with U.S. sanctions based on such extraterritorial legislation, giving European firms a legal “excuse” to reject U.S. demands. European countries and institutions should also encourage the use of the euro for global transactions and strengthen the use of intelligence services for economic means. Citing the recent EU ruling asking Apple to pay up to 13 billion euros in back taxes to Ireland, Berger said Europe should not be afraid to be more confrontational. “It shows Europe is perfectly capable of waging this economic war since the U.S. is only going to keep it up,” she said. politicsNews
must stop judicial corporate europe french lawmakers sayparis reuters europe challenge united states increasingly aggressive use extraterritorial laws cost european companies especially banks billions fines settlements french parliamentary report said still reeling billion fine biggest bank bnp paris pay authorities violations american sanctions countries french government criticized recent years considers legal system paris main objections center department justice broad interpretation considers jurisdiction this sphere influence include transactions outside dollar currency involved it also cover deals actions taking place via internet using computer servers we consider today situation amounts abusive use american law marine berger lawmaker ruling socialist party told reuters interview calling practices akin extortion we ask france europe let known united states longer accept type in investigative report last week lawmakers socialist party opposition conservatives said law appeared punitive toward foreign firms domestic ones although foreign firms accounted percent investigations opened authorities bribery law percent amount levied fines came foreign companies report said since european banks hsbc deutsche bank paid billion united states breaches various sanction regimes european firms also accounted biggest penalties report said the report question regulators current prosecution deutsche bank toxic mortgage securities financial crisis since actions took place united states but say doj taken account impact financial system billion fine sought german bank went swiss bank credit suisse said sunday put five employees leave investigates matter swiss paper sonntagszeitung reported move connected probe bank israeli unit possible tax evasion berger said europe response forceful enough european union individual member states adapt legislation report sent counterparts eu parliaments there must legal armament europe fight equal terms united states field economic competition berger said the european union consider challenging parts sanction regime world trade organisation report said citing precedent european successfully forced back congressional sanctions cuba libya iran could affected european firms the eu update ban european firms complying sanctions based extraterritorial legislation giving european firms legal excuse reject demands european countries institutions also encourage use euro global transactions strengthen use intelligence services economic means citing recent eu ruling asking apple pay billion euros back taxes ireland berger said europe afraid confrontational it shows europe perfectly capable waging economic war since going keep said politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: U.S. must stop judicial 'extortion' of corporate Europe, French lawmakers sayPARIS (Reuters) - Europe should challenge the United States over its increasingly aggressive use of extraterritorial laws that have cost European companies - especially banks - billions in fines and other settlements, a French parliamentary report said. Still reeling from the $9 billion fine its biggest bank, BNP Paribas, had to pay U.S. authorities over violations of American sanctions against other countries, the French government has criticized in recent years what it considers the over-reach of the U.S. legal system. Paris’s main objections center on the U.S. Department of Justice’s broad interpretation of what it considers its jurisdiction. This sphere of influence can include transactions between non-Americans outside the U.S. where the U.S. dollar currency is involved. It can also cover deals and other actions taking place via the Internet using U.S. computer servers. “We consider that today’s situation amounts to abusive use of American law,” Karine Berger, a lawmaker from the ruling Socialist party told Reuters in an interview, calling the practices akin to “extortion”. “We ask France and Europe to let it be known to the United States that we will no longer accept this type of behavior.” In a non-binding investigative report last week, lawmakers from both the Socialist party and opposition conservatives said U.S. law appeared to be more punitive toward foreign firms than domestic ones. Although foreign firms accounted for only 30 percent of investigations opened by U.S. authorities between 1977 and 2014 under its anti-foreign bribery law, 67 percent of the amount levied in fines came from foreign companies, the report said. Since 2009, European banks such as HSBC and Deutsche Bank have paid about $16 billion to the United States over breaches of various sanction regimes. European firms have also accounted for 14 of the 15 biggest penalties, the report said. The report did not question U.S. regulators’ current prosecution of Deutsche Bank over mis-selling toxic mortgage securities before the financial crisis, since the actions took place in the United States. But it did say the DoJ had not taken account of the impact on the financial system that the $14 billion fine it sought from the German bank went on to have. Swiss bank Credit Suisse said on Sunday it has put five employees on leave while it investigates a tax-related matter. Swiss paper SonntagsZeitung reported that the move was connected to a U.S. probe of the bank’s Israeli unit over possible tax evasion. Berger said Europe’s response had not been forceful enough, and that both the European Union and individual member states should adapt their own legislation, which is why the report will be sent to counterparts at other EU parliaments. “There must be a legal rearmament in Europe, so we fight on equal terms with the United States in the field of economic competition,” Berger said.   The European Union should consider challenging parts of the U.S. sanction regime at the World Trade Organisation, the report said, citing a 1998 precedent when Europeans successfully forced the U.S. to back down over Congressional sanctions against Cuba, Libya and Iran that could have affected European firms. The EU should update a 1996 ban on European firms complying with U.S. sanctions based on such extraterritorial legislation, giving European firms a legal “excuse” to reject U.S. demands. European countries and institutions should also encourage the use of the euro for global transactions and strengthen the use of intelligence services for economic means. Citing the recent EU ruling asking Apple to pay up to 13 billion euros in back taxes to Ireland, Berger said Europe should not be afraid to be more confrontational. “It shows Europe is perfectly capable of waging this economic war since the U.S. is only going to keep it up,” she said. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: must stop judicial corporate europe french lawmakers sayparis reuters europe challenge united states increasingly aggressive use extraterritorial laws cost european companies especially banks billions fines settlements french parliamentary report said still reeling billion fine biggest bank bnp paris pay authorities violations american sanctions countries french government criticized recent years considers legal system paris main objections center department justice broad interpretation considers jurisdiction this sphere influence include transactions outside dollar currency involved it also cover deals actions taking place via internet using computer servers we consider today situation amounts abusive use american law marine berger lawmaker ruling socialist party told reuters interview calling practices akin extortion we ask france europe let known united states longer accept type in investigative report last week lawmakers socialist party opposition conservatives said law appeared punitive toward foreign firms domestic ones although foreign firms accounted percent investigations opened authorities bribery law percent amount levied fines came foreign companies report said since european banks hsbc deutsche bank paid billion united states breaches various sanction regimes european firms also accounted biggest penalties report said the report question regulators current prosecution deutsche bank toxic mortgage securities financial crisis since actions took place united states but say doj taken account impact financial system billion fine sought german bank went swiss bank credit suisse said sunday put five employees leave investigates matter swiss paper sonntagszeitung reported move connected probe bank israeli unit possible tax evasion berger said europe response forceful enough european union individual member states adapt legislation report sent counterparts eu parliaments there must legal armament europe fight equal terms united states field economic competition berger said the european union consider challenging parts sanction regime world trade organisation report said citing precedent european successfully forced back congressional sanctions cuba libya iran could affected european firms the eu update ban european firms complying sanctions based extraterritorial legislation giving european firms legal excuse reject demands european countries institutions also encourage use euro global transactions strengthen use intelligence services economic means citing recent eu ruling asking apple pay billion euros back taxes ireland berger said europe afraid confrontational it shows europe perfectly capable waging economic war since going keep said politicsnews