1. FINANCE DRAMA

    Lagarde to Appear in Court

    Managing Director of the International Monetary Fund Christine Lagarde, center, arrives for a meeting of eurozone ministers at the EU Council building in Brussels on Monday, Feb. 20, 2012. Eurozone governments will likely approve on Monday a long-elusive rescue package for Greece, saving it from a potentially calamitous bankruptcy next month, senior officials said. But finance ministers meeting in Brussels will have a few last issues to wrangle over, such as tighter controls over Greece's spending and further cuts to the country's debt load. (AP Photo/Virginia Mayo)

    Virginia Mayo / AP Photo

    It’s been a busy week for IMF head Christine Lagarde. On the eve of the twice-yearly, high-level IMF and World Bank meetings, The New York Times and Reuters report that Lagarde is set to appear before a French magistrate on May 23 in connection with an arbitration payment made to a billionaire supporter of former French president Nicolas Sarkozy. The investigation was first opened in 2011 and Lagarde has never been summoned for questioning, though her apartment was searched by authorities last month.

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