Monday, December 19, 2016

Christine Lagarde: the court speaks IMF Boss guilty – MIRROR ONLINE

IMF Chief Christine Lagarde has been convicted in a criminal trial guilty of, but because of their “personality” is not a punishment. The judgment could trigger a new leadership debate at the IMF.

Christine Lagarde


Christine Lagarde

In the affair to a million-payment to the entrepreneur Bernard Tapie is IMF Chief Christine Lagarde, a French court been found guilty.

The court of justice of the Republic saw it as proven that Lagarde acted as a former French Finance Minister, negligence. The judges in Paris decided, however, to impose a penalty. They justified this with the “personality” of Lagarde’s, your “international Reputation” and the fact that Lagarde had to struggle in 2007 and 2008 with the international financial and economic crisis.

Lagarde from 2007 to 2011, economic and financial Minister under the then President Nicolas Sarkozy. In this role, she was instrumental for France’s response to the international financial crisis, which had begun with the Bursting of the housing bubble in the United States. After the resignation of her compatriot Dominique Strauss-Kahnals managing Director of the IMF Lagarde in 2011, took over its successor.

Lagarde’s lawyer, Patrick Maisonneuve was “pretty disappointed” about the verdict. One possible Revision, he’s not from the castle. The court had in its judgment on the Prosecutor’s office, which had objected to a condemnation of the financial Manager.

Lagarde, possibly, political adversity is now threatening The ruling could trigger a new leadership debate at the IMF. A spokesman announced after the verdict early discussions of the IMF Executive Board on the outcome of the process. Lagarde had not awaited the verdict and was still left prior to the announcement from France in the direction of Washington.

under investigation for fraud

Lagarde was made because of the so-called Tapie affair, in her native France in the process. The former French Finance and economy Minister had approved in 2007, the corridor in front of a private arbitration to end a year-long legal dispute between the state and businessman Bernard Tapie. As the court of arbitration Tapie, in the following year, more than 400 million euros in damages to be awarded, a put you is no contradiction.

investigators accused her to have rashly and negligently and thus of their official duties violated traded. The court of justice of the Republic of language Lagarde now but only in a point of negligence for a guilty: He held her, not against the arbitral award, the procedure. You have to allow on the embezzlement of public funds.

The judiciary assumed that there has been Connections between Tapie and one of the three arbitrators. The arbitral award was annulled by the civil courts, therefore, already and Tapie to repay the amount condemned. In addition, fraud and running an investigation against several Parties, including Lagarde’s former office Manager.

The court of justice of the Republic is only for the Offense to French members of the government in the framework of their duties, be responsible. It was created in 1993 and meets very rarely; the case against Lagarde is only the fifth process. On the bench also twelve members of Parliament.


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