IMF Lagarde’s Legal Issues Continue

French authorities have formally opened a negligence investigation into Christine Lagarde, the head of the International Monetary Fund (IMF).

She has been questioned about her role in awarding 400m euro (£318m; $527m) in compensation to businessman Bernard Tapie in 2008. She denies wrongdoing.

Ms Lagarde, 58, was finance minister in President Nicolas Sarkozy’s government at the time of the award.

Mr Tapie supported Mr Sarkozy in the 2007 presidential election.

He was once a majority shareholder in sports goods company Adidas but sold it in 1993 in order to become a cabinet minister in Francois Mitterrand’s Socialist government.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza