UPDATE 1-France defends billion-euro guarantee demand in UBS probe
July 24, 2014 at 07:36 AM EDT
PARIS, July 24 (Reuters) - A 1.1 billion euro ($1.48 billion) guarantee payment demanded by French judges of Swiss bank UBS reflects the size of the fine it could pay if found guilty of helping wealthy French customers avoid tax, the French prosecutor's office said on Thursday.
