The financial sector

IMF Chief must be in France before the court

Christine Lagarde, once as economy Minister, a compensation payment of EUR 400 million to the entrepreneur Tapie. And the to wrong.

IMF Boss Christine Lagarde ‘must’ in France before the court. Reason is a controversial million payment to her time as French Minister of economic Affairs. The French court of cassation dismissed their appeal on Friday. Now the court of justice of the Republic must judge the 60-year-old Head of the International monetary Fund (IMF). Lagarde described the procedure and the allegations always as “completely unfounded”. The Frenchwoman stands since 2011 at the helm of the IMF.

The former Minister of economic Affairs, is accused of negligence. It goes to the suspicion that Lagarde could have made in their time in government in Paris (2007-2011) contrary to the rules, a compensation payment of approximately 400 million euros to Bernard Tapie. The business man had seen of the former state Bank Crédit Lyonnais in the sale of its shares in the German sports goods manufacturer Adidas bruised and therefore complained.

The court of justice of the Republic is a special court for violations of the law of the French members of the government, within the framework of their duties, be responsible.

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The case ensures years of headlines

The case provides for years already been in the headlines. Lagarde was questioned in the affair multiple corruption investigators, in August 2014, an impeachment procedure was initiated against them. In the case of a conviction, a prison and a 15 000 Euro fine could go up to a year.

At the beginning of December 2015, the court of appeals Tapie was convicted on the arbitration award from 2008 returning compensation to repay.

Grande Dame of the financial world

Christine Lagarde is considered the “Grande Dame” of the financial world. The French woman at the controls of the international financial power as a woman is rather an exception. Lagarde is since 2011, and after the ignominious departure of its compatriot Dominique Strauss-Kahn – the first Head of the International monetary Fund (IMF). In February 2016, has been confirmed for a second term. “I am looking forward to serve the members and to lead in the time ahead with our important Mission,” said the 60-Year-old at the time.

The function of the woman with the gray short hair hairstyle is one of the Central figures in the Euro debt crisis. Especially in debt-ridden countries will not have heard her Name but always liked. So many people throw in Greece, but also in other countries such as Ireland, the IMF, under Lagarde’s leadership to set strict conditions for the granting of relief credits.

Trained as a lawyer, Economist, Analyses

As a former synchronized swimmer for a long haul Lagarde. In addition, it is considered to be well networked, skilled Negotiator. Prior to her career at the international monetary Fund had made as a lawyer, a name: From 1999 to 2004, she headed the US law firm Baker & McKenzie. In politics came in 2007, when then-French President Nicolas Sarkozy made the trained lawyer, Economist, Analyses the economic and financial Minister.

For years now, but the mother of two has problems with the French justice. Now you have to actually be in front of the court of justice of the Republic.

Meanwhile, the International monetary Fund in Washington, its Chairman, has the vote of confidence. The Executive Board had been informed of the operation, said IMF spokesman GHerry Rice on Friday. You continue to trust your ability to do your job.

ul/whom (dpa, rrtr, afp)