Banana Republic

President Jacques Chirac took the exceptional step last night of denying allegations that he had a secret Japanese bank account into which £30 million had been paid over a number of years.

Mr Chirac, who rarely responds to allegations questioning his financial propriety, "categorically" rejected the suggestion in the satirical weekly Le Canard Enchainé that he had ever possessed such an account.

A French intelligence chief, Gen Philippe Rondot, was alleged to have told investigating judges that the large amounts were paid by a "cultural foundation" into an account in the president's name at the Tokyo Sowa Bank.

Gen Rondot is at the centre of an investigation into who ordered intelligence checks on Nicolas Sarkozy, the interior minister and presidential hopeful.

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Le Canard said Mr Chirac's alleged account in Japan had been mentioned incidentally during Gen Rondot's questioning. But a close confidant of the president was quoted as saying: "The President of the Republic categorically denies the information reported by the Canard Enchainé. The president has never had an account at the Sowa Bank."

And how is he - sorry, are we, French taxpayers - supposed to provide for his secret Japanese son then?