reply to post by smurfy
Indeed Christine Lagarde is less than appreciated in France due to her role in the "justice" ruling of Tapie vs Credit Lyonnais.
To make short, Bernard Tapie was the owner of Adidas.
At some point he wanted to sell the company and requested the help of Credit Lyonnais (state--owned bank).
Tapie later realised that the Credit Lyonnais "cheated" him: they helped (ridiculously low loans) a businessman (Dreyfus) buy Adidas for 2 billion
Dreyfus paid 2 billion, and Credit Lyonnais got the remaining 2.
So Tapie has attacked CL in justice.
This has been lasting years and years.
Here comes Mrs Lagarde, finance minister in France. She finds a law that in case of very long justice cases, these cases can be "solved" by 3
appointed people. This is often used in lengthy business cases, but has never ever been used for a private person vs. the government. I forgot exactly
who appoints them, at least 1 for the government.
And wow surprise, the "referees" decide that Tapie has indeed been cheated and declare that the French government must pay Tapie 390 million €:
. 45 millions for moral prejudice (highest fine ever in France for moral prejudice)
. 240 million for financial prejudice
. 92 millions for interest
. 13 million for justice expenses
No one in the government contested this ruling, they agreed with it (of course, it was tax payer money, not their money).
Interestingly, Lagarde is a close ally of Nicolas Sarkozy (he pushed for her appointment at the IMF).
Tapie has publicly supported Sarkozy during the 2007 presidential elections.
I remember reading some news, that on the same day as the ruling in favour of Tapie, a court of justice gave a ruling regarding an African girl which
had been brought in France as a kid and used as a slave by a French couple for something like 12 years.
This girl received something like 20 or 30,000 € for moral prejudice.
As a side note this parallel is a good insight into French society and the distrust of the people for their politicians.