IMF boss Christine Lagarde will stand trial in France

International Monetary Fund Managing Director Christine Lagarde, has to face trial in France over a 2008 intercession ruling that handed 400 million euros to a politically-connected business giant.

Today in Beijing she met with Premier Li Keqiang and she also visited the World Bank leaders as well as the World Trade Organization and other bodies before this weekend’s gathering of finance officials of the group of 20 major economies.

Christine Lagarde was the finance minister at the time of the tycoon Bernard Tapie deal. And later she was accused of negligence in the same case. But she has denied any transgression.

Last December a special court has ruled that she has to face trial in this case after that she appealed but, France’s curt has denied her appeal today.

The strangely generous adjudication deal which was paid from public funds and was prompted years of legal disagreements that remain unresolved.

The Chinese premier called for closer at today’s event at Beijing for economic policy. Li said

“countries with room to do should consider using higher government spending and called for reforms of reform of financial and labor markets. There are rising geopolitical risks. There are more uncertainties and destabilizing factors. All countries should work together to promote the recovery of the world economy.”

Li acknowledged China’s pledges to keep the exchange rate of the yuan stable, rather than diminishing to indorse exports, and to circumvent “a trade war or currency war.” 

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