IMF's Lagarde vows to fight negligence charge in French payout trial

IMF
# 12 December 2016 18:00 (UTC +04:00)

International Monetary Fund chief Christine Lagarde pledged to fight "allegation by allegation" charges of negligence when she went on trial in Paris on Monday over her role in a huge payout by the French state to businessman Bernard Tapie in 2008, APA reports quoting Reuters.

Lagarde, 60, was France's finance minister in the government of then-president Nicolas Sarkozy when she approved an out-of-court settlement with Tapie to end a long-running dispute between the magnate and the French state.

The decision to accept an extremely rare private arbitration ended up costing French taxpayers more than 400 million euros ($424 million) in a payout to Tapie.

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THE OPERATION IS BEING PERFORMED