The US Justice Department is coming down hard on European banks that are accused of evading US government sanctions.
French BNP Paribas has already paid its massive fine, but Washington’s new strategy is expected to snare more financial institutions, not only in Europe. Some lenders are being investigated for sanctions violations, some for money laundering.
The US Justice Department does not have its sights on the Vatican bank, but the Institute for Religious Works is being restructured as some of its accounts reportedly were used for illegal activities.
Apart from bank misdeeds we have a story from Greece. The country is eager to restart its economy and there is an interesting project, that could help with it.
Watch the Business Weekly video to find out more.