Free Trial

Foreign Min: Australia Scrapping Sub Deal Is A 'Stab In The Back'

FRANCE

French Foreign Minister Jean-Yves Le Drian delivers stark comments this morning following the Australian decision to scrap its EUR50bn deal with France for up to 12 diesel-electric subs in favour of the construction of nuclear submarines with US and UK help.

  • Astatement last night from the Defence and Foreign ministries was measured in its tone, said the "decision contrary [is] to the letter and the spirit of the cooperation which prevailed between France and Australia, based on a relationship of political trust as on the development of an industrial and technological base of defense of very high level in Australia."
  • However, this morning Le Drian went further, saying that "It's a stab in the back. We had established a trusting relationship with Australia, and this trust was betrayed....This is not over. We have contracts. The Australians need to tell us how they're getting out of it....This unilateral, brutal, unforeseeable decision really looks like what Mr. Trump was doing...This move is unacceptable between allies who want to develop a structured Indo-Pacific partnership."

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.