France’s Foreign Minister Laurent Fabius denied a “rumor” in a newspaper report claiming that he may have a Swiss bank account, as the French government struggles to deal with a scandal over undeclared foreign bank holdings.

“I absolutely deny the rumor, published in the Monday April 8 edition of Liberation, claiming I have a bank account in Switzerland,” Fabius wrote in a statement.

There is no “substance or foundation” to the report, he added.

Fabius also announced that he would pursue legal action to “stop the diffusion of this false and slanderous information”.

The headline in Liberation read: “A possible Fabius affair petrifies the Elysee”, referring to the French president’s office.