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US Fines Reaching Into Europe - 'Extortion'

Reuters reports that a French Parliamentary report argues that Europe should challenge the United States over what it sees as its aggressive use of extraterritorial laws to fine European companies, especially banks.

The report objects to the U.S. Department of Justice's interpretation of its jurisdiction that includes transactions between non-Americans outside the U.S. where the U.S. dollar currency is involved.

It also covers matters transacted over the Internet using U.S. computer servers.

Karine Berger told Reuters in an interview that the practices were an abuse of US law and were akin to extortion.

Berger is a French politician, member of the French National Assembly representing Hautes-Alpes, and the national secretary for the economy of the ruling French Socialist Party.

COMMENT

Where does this stand via a via the Apple tax bill?

Tax is one thing; fines are another, at least on the face of it.

Is it just a tug of war between the USA and the EU as to who gets the money?

What would a disinterested expert say about the fairness of the US fines and the EU taxing of Apple?

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