SEARCH

Entries in Christine Lagarde (2)

Tuesday
Aug302011

Dominique Strauss-Kahn Visits IMF, Apologizes for Scandal

Harold Cunningham/Getty Images(WASHINGTON) -- Dominique Strauss-Kahn paid a visit to the Washington D.C. headquarters of the International Monetary Fund Monday to say farewell to staffers and to meet with his successor, less than a week after New York prosecutors dropped all criminal charges against him.

William Murray, a spokesman for the IMF, said Strauss-Kahn met with current managing director Christine Lagarde and other staffers.

One IMF staffer told AFP that Strauss-Kahn addressed employees and said he wanted to “apologize to those who have been hurt” by the scandal.  The staffer said the former IMF head said he was sorry the case had a negative impact on the organization.

Strauss-Kahn resigned as the head of the IMF in May after he was charged with attempted rape and criminal sexual contact in connection with an alleged attack on a Manhattan hotel maid.  All criminal charges have been dismissed, but Strauss-Kahn still faces a civil lawsuit filed by his accuser.

Strauss-Kahn, a leader in France's Socialist Party, has expressed a desire to return home, but it’s unclear if he still intends to run for president in an effort to unseat incumbent Nikolas Sarkozy.

Copyright 2011 ABC News Radio

Sunday
Jul102011

Christine Lagarde 'Can't Imagine' United States Would Default on Debt

ABC News(NEW YORK) -- As the White House continues negotiations with congressional leaders over a budget deal this weekend, newly elected head of the International Monetary Fund Christine Lagarde says that she "can't imagine for a second" that the United States would default on its debt obligations, saying it would be "a real shock" to the global economy if no agreement is reached.

"I can't imagine for a second that the United States would default," Lagarde told "This Week" anchor Christiane Amanpour in an exclusive interview. "But, clearly, this issue of the debt ceiling has to be resolved."

"It would be a real shock, and it would be bad news for the U.S. economy," Lagarde added on the threat of the U.S. not raising the debt ceiling. "So I would hope that there is enough bipartisan intelligence and understanding of the challenge that is ahead of the United States, but also of the rest of the world."

Lagarde, who previously served as France's finance minister, said there could be "real nasty consequences," including rising interest rates, depressed stock markets, increased unemployment, and decreased investment if a deal is not reached by the Aug. 2 deadline facing the United States.

"It would certainly jeopardize the stability, but not just the stability of the U.S. economy, it would jeopardize the stability at large," Lagarde said. "And that's clearly against the purpose and the mission of the International Monetary Fund. So we are concerned and we are very much hoping that a compromise will be found before the deadline."

Lagarde is the first woman to serve as managing director of the IMF, taking over the position last week following the resignation in May of Dominique Strauss-Kahn, who is currently battling charges that he sexually assaulted a New York hotel maid. That case is now in question because of doubts about the accuser's credibility.

The IMF is still reeling from the drama surrounding Strauss-Kahn, who Lagarde said did "an excellent job" as managing director during his tenure.

"When an institution loses its managing director under such circumstances, there is clearly wounds as a result," Lagarde said. "Some people are very hurt. Other people feel betrayed. It's a very strange chemistry of frustration, irritation, sometimes anger, sometimes very deep sadness as well."

Because of the fallout from the Strauss-Kahn case, Lagarde's contract at the IMF includes specific language about ethical behavior, saying, "You shall strive to avoid even the appearance of impropriety in your conduct."

"In the back of my mind, when it comes to ethics and whatever I do, I always think to myself, would my mother approve of that?" Lagarde said. "And if she did not, then there's something wrong. It's a basic, stupid principle, maybe, to have. But it's something quite handy and quite efficient."

Regardless of the verdict in the Strauss-Kahn case, Lagarde said she believes it may have helped open a debate among women in France to speak out against harassment.

Copyright 2011 ABC News Radio







ABC News Radio