PARIS—Eric Cantona, one of France’s best goal scorers in the 1990s, created an uproar among bankers and government representatives after he called for a massive bank run.
It all started in October with a YouTube video of an interview of “The King”—as he was dubbed by Manchester United fans—with Presse Ocean newspaper.
“Going in the streets, what does it count for? People talk of revolution, but we are not going to take arms and kill people while such very easy things can be done. The system is built on the power of banks. Therefore, it can be destroyed by banks. Instead of having 3 million people in the streets, let’s have 3 million people go to the bank and withdraw their money. And the system will crumble.”
“If 20 million people empty their accounts, the system will crumble. No weapons, no blood, nothing, the Spaggiari way. It is not difficult. And then … people will start listening to us.”
Albert “Bert” Spaggiari was a bank robber who became infamous in 1976 for pulling off a major heist of the Société Générale bank in Nice during Bastille Day celebrations. After emptying the vault he left a note reading, “without weapons, hate, or violence.”
So far French citizens have not acted on Cantona’s suggestion but politicians and bankers are deeply worried.
The YouTube video circulated quickly, being viewed by hundreds of thousands of people. Nearly 40,000 Facebook users claimed they would empty their bank accounts on Dec. 7 to answer the “Canto call.”
Reactions from three ministers and a bank executive added weight to the feeling that Cantona could score a goal. Christine Lagarde, French Economy minister, abruptly advised Cantona to focus on soccer rather than the economy, reported The Telegraph. “Each has their own job. Some are wonderful soccer players, as for me I wouldn’t dare, I think one should act where his own competence is.”
François Baroin, French Budget minister, further added during an interview with France Soir that the call was “grossly irresponsible.”
Even more aggressive was the comment by Solidarity and Social Cohesion Minister Roselyne Bachelot on France Info radio who accused Cantona of largely benefiting from the system he criticized. Not only was Cantona a soccer icon, after he ended his sports career he took up a career in film acting.
Baudoin Prot, the general manager of French banking giant BNP Paribas told Le Figaro newspaper that the “Cantona call” was “completely opposite to what can make an economy viable.”
While there was no revolution in France on Dec. 7, it seems to be stimulating a healthy debate on the responsibility of banks in the economic crisis, as well as illustrating the level of discontent and distrust the French public has toward banks.
One local nonprofit organization announced it would soon release information on the most ethical and responsible financial institutions so that citizens can make informed choices of where to deposit their funds.
It all started in October with a YouTube video of an interview of “The King”—as he was dubbed by Manchester United fans—with Presse Ocean newspaper.
“Going in the streets, what does it count for? People talk of revolution, but we are not going to take arms and kill people while such very easy things can be done. The system is built on the power of banks. Therefore, it can be destroyed by banks. Instead of having 3 million people in the streets, let’s have 3 million people go to the bank and withdraw their money. And the system will crumble.”
“If 20 million people empty their accounts, the system will crumble. No weapons, no blood, nothing, the Spaggiari way. It is not difficult. And then … people will start listening to us.”
Albert “Bert” Spaggiari was a bank robber who became infamous in 1976 for pulling off a major heist of the Société Générale bank in Nice during Bastille Day celebrations. After emptying the vault he left a note reading, “without weapons, hate, or violence.”
So far French citizens have not acted on Cantona’s suggestion but politicians and bankers are deeply worried.
The YouTube video circulated quickly, being viewed by hundreds of thousands of people. Nearly 40,000 Facebook users claimed they would empty their bank accounts on Dec. 7 to answer the “Canto call.”
Reactions from three ministers and a bank executive added weight to the feeling that Cantona could score a goal. Christine Lagarde, French Economy minister, abruptly advised Cantona to focus on soccer rather than the economy, reported The Telegraph. “Each has their own job. Some are wonderful soccer players, as for me I wouldn’t dare, I think one should act where his own competence is.”
François Baroin, French Budget minister, further added during an interview with France Soir that the call was “grossly irresponsible.”
Even more aggressive was the comment by Solidarity and Social Cohesion Minister Roselyne Bachelot on France Info radio who accused Cantona of largely benefiting from the system he criticized. Not only was Cantona a soccer icon, after he ended his sports career he took up a career in film acting.
Baudoin Prot, the general manager of French banking giant BNP Paribas told Le Figaro newspaper that the “Cantona call” was “completely opposite to what can make an economy viable.”
While there was no revolution in France on Dec. 7, it seems to be stimulating a healthy debate on the responsibility of banks in the economic crisis, as well as illustrating the level of discontent and distrust the French public has toward banks.
One local nonprofit organization announced it would soon release information on the most ethical and responsible financial institutions so that citizens can make informed choices of where to deposit their funds.
