She could lead Europe’s central bank, but her detractors are on Lagarde
The IMF managing director has the backing of Merkel and Macron. Not everyone is on board though
If Christine Lagarde lands the top job at the European Central Bank it will be a triumph for the woman whose career was recently under threat from a conviction for “negligence” over a huge payout to a business tycoon when she was French finance minister.
Just three years ago, the 63-year-old outgoing IMF chief was embroiled in the murky French affair of Bernard Tapie, a flamboyant former minister, captain of industry and erstwhile head of Olympique Marseille football club who has served time for fraud.
The case revolved around Lagarde’s decision to allow a dispute over Tapie’s sale of the Adidas sports brand to Credit Lyonnais bank to be resolved by a rarely used private arbitration panel, instead of through the courts...