Former French President Nicolas Sarkozy arrives at the National Assembly in Paris June 25, 2014. REUTERS/Gonzalo Fuentes
PARIS (Reuters) - The conservative UMP party of former French president Nicolas Sarkozy must cut running costs and seek new credit accords with its banks to wind down some 80 million euros ($109 million)(63.63 million pounds) of debt, an independent audit concluded on Tuesday.
The UMP, France's main opposition party, is already at the centre of a legal inquiry into whether party officials used its books to cover up millions of euros of overspending on Sarkozy's failed 2012 election campaign.
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