August 4th, 2011
09:04 PM GMT
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When confronted with the news that his client will face an investigation, Christine Lagarde’s lawyer said "she’s not worried at all and neither am I."

The words might as well have been spoken by the new International Monetary Fund managing director herself: They were so frank and to the point.

Lagarde is accused of intervening in a long-running court dispute between French tycoon Bernard Tapie and the bank Credit Lyonnais when she was France’s finance minster. The case was settled in 2008 and saw Tapie awarded $340 million - a seemingly large sum which should be weighed against the costs of a long-running legal battle.

She denies any wrongdoing.

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