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christiane lagarde

IMF chief Lagarde grilled over ‘colossal’ payout in French trial

PARIS: IMF boss Christine Lagarde faced a grilling on Tuesday, the second day of her trial, over the "colossal" damages payout authorised for a tycoon while she was French finance minister. Presiding judge Martine Ract Madoux forced the head of the International Monetary Fund on the defensive as she questioned why 45 million euros ($48 million) had been paid to Bernard Tapie in compensation. These so-called "moral damages" -- to compensate for his emotional and physical suffering -- were part of a 404 million euro…