Challenges Faced by Christine Lagarde: Obstacles and Turning Points

Life is full of challenges, and Christine Lagarde faced many. Discover key struggles and how they were overcome.

Christine Lagarde is a prominent French politician and lawyer. She holds the distinction of being the first woman to lead the European Central Bank (ECB), a position she has held since 2019. Prior to the ECB, Lagarde served as the Managing Director of the International Monetary Fund (IMF) from 2011 to 2019. Her career also includes significant roles in the French government, most notably as the Minister of the Economy, Finance and Industry from 2007 to 2011. Her leadership across international and national institutions marks her as a significant figure in global economics and politics.

Sections (4)

Full Timeline Career & Achievements Challenges & Struggles Controversies & Scandals

2008: Government response to financial crisis

During her tenure, Christine Lagarde oversaw the government response to the 2007–2008 financial crisis.

August 2011: Investigation Ordered into Lagarde's Role in Arbitration Deal

In August 2011, La Cour de Justice de la République ordered an investigation into Christine Lagarde's role in a €403 million arbitration deal favoring businessman Bernard Tapie during her tenure as finance minister in 2007.

December 2011: Risk to the world economy

On 25 December 2011, Christine Lagarde argued that the world economy was at risk and urged Europeans to unify in terms of the debt crisis facing the continent.

July 2012: Not in the negotiation mood

In July 2012, Christine Lagarde said she was "not in the negotiation or renegotiation mood at all" regarding the terms of external assistance to Greece, as the Greek economy continued to decline.

March 2013: Lagarde's Apartment in Paris Raided

In March 2013, as part of the investigation into the Tapie arbitration deal, French police raided Christine Lagarde's apartment in Paris.

August 2014: Formal Negligence Investigation Approved

In August 2014, the CJR formally approved a negligence investigation into Christine Lagarde's role in the arbitration of the Tapie case.

December 2015: Lagarde Ordered to Stand Trial

On 17 December 2015, the CJR ordered Christine Lagarde to stand trial for alleged negligence in handling the Tapie arbitration approval.

2015: Calling for massive debt relief

In 2015, Christine Lagarde's organization made headlines by calling for massive debt relief for Greece, a call she reiterated personally.

December 2016: Convicted of negligence

In December 2016, a French court convicted Christine Lagarde of negligence relating to her role in the Bernard Tapie arbitration, but did not impose a penalty.

December 2016: Lagarde Found Guilty of Negligence

In December 2016, the court found Christine Lagarde guilty of negligence but did not impose a fine or custodial penalty.

2016: Refusal to participate in emergency financing

In 2016, the IMF refused to participate with eurozone countries in further emergency financing for Greece, because concrete measures to relieve the country of its debt burden remained absent.

July 2024: EU's Revised Economic Governance Framework

In July 2024, Christine Lagarde stated in Frankfurt that fully implementing the EU’s revised economic governance framework without delay would help governments lower budget deficits and debt ratios sustainably. She emphasized the importance of fiscal discipline for member states adhering to the agreed rules. The ECB considered Belgium, Greece, Spain, France, and Italy as "high risk in the medium term" at this time.