Not since its creation by Napoleon in 1800 has the “old lady” who kept her original motto –
“wisdom fixes fortune” –
lost so much money.
The 2023 financial year will have been an
annus horribilis
.
“The ordinary profit before tax reached -12.4 billion euros
,” announced (March 15) the annual report of the Banque de France in its circumvented style which avoids calling a spade a spade, of naming a loss of dry exploitation.
And in the same complacent vein, this negative result
“is covered in full by a recovery in the fund for general risks, which, thanks to rigorous and forward-looking management of our risks, had been heavily endowed since 2015.”
Hence this miracle conclusion:
“In total, the net result for the 2023 financial year is zero.”
We are relieved: the State, sole shareholder since the nationalization of 1945, will not have to put its hand in its pocket to recapitalize its central bank, which from 1998 became manager of the euro under the leadership…
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