Most Talked-About Controversies Linked to Christine Lagarde

A closer look at the most debated and controversial moments involving Christine Lagarde.

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

2007: Arbitration Deal in Favor of Bernard Tapie

In 2007, during Christine Lagarde's tenure as finance minister, a €403 million arbitration deal was made in favor of businessman Bernard Tapie, leading to subsequent investigations.

2010: List of Greek Customers Sent to Government

In 2010, Christine Lagarde, serving as France's finance minister, provided the Greek government with a list of 1,991 names of Greek customers suspected of tax avoidance, who held bank accounts at HSBC's Geneva branch.

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.

May 2012: Controversy over Greek debt crisis comments

In May 2012, Christine Lagarde's comments about Greek tax avoidance and "payback time" regarding the Greek government-debt crisis provoked controversy.

October 2012: Publication of the Greek Customers List and Arrest of Kostas Vaxevanis

On 28 October 2012, Greek reporter Kostas Vaxevanis claimed possession of the list of Greek customers with HSBC accounts, publishing over 2,000 names in his magazine Hot Doc. He was promptly arrested for breaching privacy laws but was found not guilty three days later after a public outcry. He faced a retrial and was acquitted again.

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.

May 2013: Lagarde Assigned "Assisted Witness" Status

In May 2013, after two days of questioning, Christine Lagarde was assigned the status of "assisted witness" by the Court of Justice of the Republic (CJR), indicating she was not under formal investigation at that time regarding the Tapie case.

June 2013: CEO of France Telecom's Testimony

According to a press report from June 2013, Stéphane Richard, CEO of France Telecom, testified that Christine Lagarde was fully briefed before she approved the arbitration process that benefitted Bernard Tapie. Richard himself was under formal investigation in the case.

2013: Letter Expressing Allegiance to Nicolas Sarkozy Revealed

In 2013, a hand-written letter from Christine Lagarde to then-President Nicolas Sarkozy was revealed, expressing her full allegiance and willingness to be used as he saw fit, seeking his guidance and support.

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.

January 2015: Shredding of Corruption Case Documents

In January 2015, just before the Greek general elections where Syriza was expected to win, the financial crimes police of the conservative government of Antonis Samaras allegedly shredded numerous documents related to corruption cases.

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.

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.