Monday, December 19, 2016

A special court sentenced IMF Chief Christine Lagarde – THE WORLD

Die Head of the International monetary Fund (IMF), Christine Lagarde, has been convicted in a criminal trial in Paris guilty, but receives no penalty. The court of justice of the Republic saw it in its judgment as evidence that she has acted in connection with a 400-million-Euro payment to businessman Bernard Tapie as a former French Finance Minister, negligence.

Lagarde is regarded, according to the American magazine “Forbes” as one of the ten most powerful women in the world. However, the tension of the last months haven’t been kind to her. On the last Day of the trial last week, she struggled visibly with the tears. The five days of trial before the court of justice of the Republic be for your family and you have been a hard trial, said the 60-year-old IMF Chief in a hoarse voice.

The business lawyer was accused of negligence in connection with a controversial million payment to the dazzling businessman Tapie. The background of a highly political process, the so-called Adidas affair, the France already since the beginning of the 90s in breathing.

Since then, Tapie, was once the home of the football club, Olympique Marseille, and his former Bank, Crédit Lyonnais, with processes of plating. Tapie by the former state Bank in the sale of its shares in the German sportswear manufacturer is bruised.

The financial institution was the state, as Ex-President François Mitterrand had nationalized after his inauguration in 1982, all banks in France nation. Meanwhile, the Bank, which had to be in 1993, nearly broke and with public funds saved in the name of LCL to the Crédit Agricole.

suspicion on tape standard was

Lagarde, who served from 2007 to 2011, as the French economic and Finance Minister under Ex-President Nicolas Sarkozy, agreed in 2007, to arbitration, to end the protracted legal dispute with Mr Tapie. The arbitral Tribunal awarded the French businessman in 2008, a compensation of EUR 403 million. An appeals court later decided that Tapie will have to pay back the money. At the same time, the judiciary initiated an investigation. They feared that Tapie received a special treatment, because he supported Ex-President Sarkozy’s 2007 election campaign. As it turned out later, one of the arbitrators, and Tapies were a lawyer close relationships.

in the Meantime, is determined against six people on suspicion of band even fraud. Including Lagarde’s former head of office in the Ministry of economic Affairs, Stéphane Richard, now head of the telecoms group Orange. Richard should have been on Thursday in the trial against Lagarde’s statements, but he made of his right to refuse to testify use.

at the time I had no reason to doubt the quality of the arbitrators, said Lagarde, the court of justice of the Republic last week. They also stressed to have your former office Manager, Richard familiar. As it turns out now, he had participated to the preparation of the arbitral proceedings at two Meetings with the President and representatives of the Consortium de Réalisation (CDR). This was founded as a kind of “Bad Bank” after the near-collapse of Crédit Lyonnais.

Lagarde said in court to have not all Write to the Agency for state holdings to get, since all its notes had been filtered from your former office Manager. The Agency for state holdings was advised not to, the court of arbitration.

Lagarde: No instructions from the Elysee Palace

to be The IMF Chief denied during the process, in its decision, the court of arbitration, from the Elysee Palace have been influenced. “I didn’t get any instructions, neither by the President nor by the Prime Minister,” she said.

you have to let go of the “wire through the lawyer’s fees” and a 15-year-long legal battle to an end, she explained to the question of why they relinquished in 2008, the arbitration court decided compensation appeal. Lagarde also made by sound, that this question had not been given the middle of 2008, the outbreak of international financial crisis for you as a priority.

A bad decision is not a Crime in and of itself is a Prosecutor Jean-Claude Marin said during his pleadings. He spoke out against any condemnation of the IMF Chief. The conditions were not met, said Marin. “The negotiations have not supported the already weak prosecution.” The politically unfortunate decision Lagarde’s was no negligence in the criminal sense.

prosecutors from the beginning, against the process

Usually, the offence for negligence in France applies only to failure. The only case law there is, so far, relates to thefts in depositaries for abgeschleppte cars and public libraries, where the staff have not done anything to prevent it.

The prosecution had argued from the beginning against a process against Lagarde, however, the court of justice of the Republic was not followed the recommendation. The special court, exclusively for violations of the law by members of the government during their term of office, is responsible, is composed of 15 judges, of which twelve members of Parliament.

Lagarde had not excluded during the process, “to be used”. By whom, she said.


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