Nicolas Dupont-Aignan, a French politician, criticised the bank saying that âtaxpayers shouldn't be made to pay for financial speculationâ.
However, the French bank has claimed it acted appropriately and did not break any fiscal regulations.
Last week a French court found Jerome Kerviel guilty of unauthorised computer use, fraud and breach of trust and ordered the ex-trader to pay back â¬4.9 billlion which the bank lost through his actions.
The trader was also given a life ban from working within the financial services industry and a three-year prison sentence.
Following the verdict, Mr Kerviel said in an interview with Europe1 radio that he felt âcrushedâ by the ruling and compared it with being âhit on the head with a clubâ.
On his current salary, of â¬2,000 per month as an technology analyst, it would take the former trader approximately 177,000 years to repay the losses.
Olivier Metzner, lawyer for Mr Kerviel, has criticised the courtâs verdict and announced that an appeal to overturn the decision will be launched.
Societe Generale has now said it does not expect the former banker to pay back the entire sum.
By Jim Ottewill