Monday, May 30, 2011

::This is the wedge Lagarde to Become Director of the IMF>>

Go Finance Reporting in PARIS - Members of the G8 countries called for the French finance minister, Christine Lagarde to become the leader of the International Monetary Fund (IMF).

"Among the eight state and government, plus the president of the European Commission and European Council president who was there, fully support langarde to become leader of the IMF," said French Foreign Minister Alain Juppe as quoted by Reuters on Monday (05/30/2011) .

As is known, the position of chairman of the IMF after the current vacant some time ago Dominique Strauss-Kahn resigned because of allegations of rape trials.

One of the obstacles to progress Lagarde became the leader of the IMF is the charges against him regarding the abuse of authority over the money amounted to 285 million euros which involves a businessman Bernard Tapie, an ally of French President Nicolas Sarkozy.

Langarde accused of abusing authority over the money by the opposition Socialist Party politician, so when this case is still under investigation authorities.

Langarde who on Sunday flew to Brazil to revive the economy, questioning the legal basis for what is used as a material question for investigation.

He stated, it seems there is something wrong in this case, in which Tapie, a former left-wing government minister who switched sides to support Sarkozy's presidential campaign in 2007, has been paid to settle a legal dispute with the state-owned banks.

Initially, A French court ruled against Tapie in 2006, but the case was still open when Sarkozy won office in 2007.

Lagarde agreed to drop the proceedings and submit the case to a private arbitration panel of three members, the ministry set aside some who argue that it should remain in court.

Lagarde need IMF support for his candidacy from developing countries who have criticized European Union officials for suggesting the new chief must be a European. Meanwhile, another single candidate is the Governor of Central Bank of Mexico Agustin Carstens. (GoFinance)

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