video Finance Videos
Ex-IMF head Rato in corruption probe
Friday, April 17, 2015 - 01:55
Corruption allegations are back in the headlines for Spanish voters already hyper-sensitive to the issue ahead of elections this year, as former IMF chief Rodrigo Rato is searched in a tax and money laundering probe. Hayley Platt reports.
▲ Hide Transcript
▶ View Transcript
An apartment block in Madrid, home to former IMF chief Rodrigo Rato. Moments after police enter, they emerge with the 66 year-old suspected of fraud and money laundering. This was Spain - but the news was of particular interest to Argentina. President Cristina Fernandez shared how Rato had criticised the country's economy when he was head of the IMF between 2004 to 2007. (SOUNDBITE) (Spanish) ARGENTINE PRESIDENT CRISTINA FERNANDEZ, SAYING: "Detained for laundering money-- that's who used to come and tell us how we had to direct and manage our economy; moreover, it was they who even dared to talk about corruption in Argentina's politics." Rato was also former Spanish Prime Minister Aznar's deputy in the centre-right Popular Party before being implicated in two other judicial cases. The alleged misuse of company credit cards for personal use whilst chairman of Bankia bank. And separately over whether the bank's stock market floatation in 2011 was flawed. Rato denies wrongdoing in both cases. CMC Market's Michael Hewson. SOUNDBITE: Michael Hewson, Chief Market Analyst, CMC Markets, saying (English): "The IMF have been through crisis like these before, notably with Dominique Strauss-Kahn having to resign a few years ago. To be quite honest the Fund's credibility isn't that great in any case given the fact that it's missed pretty much all its targets with respect to its predictions on what's been going on in Greece so I think it's much more of a political problem for Mr Rajoy than a problem for the IMF." Rato was later released after cooperating with the authorities. But his arrest won't go unnoticed. Corruption is among Spanish voters' top concerns. And with a general election at the end of the year, Prime Minister Rajoy's PP party is expected to lose votes over its connections with the party's disgraced former deputy.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code
Ex-IMF head Rato in corruption probe
Friday, April 17, 2015 - 01:55
Top News »
9:31pm GMT - (1:48)
8:11pm GMT - (1:00)
8:11pm GMT - (0:30)
6:23pm GMT - (1:31)
1:00pm GMT - (2:19)
10:54am GMT - (1:34)
Tue, 19 Feb, 2019 - (0:55)
Tue, 19 Feb, 2019 - (1:29)
Tue, 19 Feb, 2019 - (0:21)
6:18am GMT - (1:49)
Tue, 19 Feb, 2019 - (1:50)
Mon, 18 Feb, 2019 - (2:15)
Editors' Picks »
1:37pm GMT - (1:34)
7:28am GMT - (1:13)
Tue, 19 Feb, 2019 - (1:31)
Mon, 18 Feb, 2019 - (1:52)
Fri, 15 Feb, 2019 - (1:55)
Thu, 14 Feb, 2019 - (2:50)
Thu, 14 Feb, 2019 - (2:00)
Thu, 14 Feb, 2019 - (1:24)
Thu, 14 Feb, 2019 - (1:58)
Thu, 14 Feb, 2019 - (1:15)
Business »
10:01pm GMT - (1:02)
9:48pm GMT - (1:17)
9:40pm GMT - (1:36)
9:18pm GMT - (1:12)
7:59pm GMT - (6:26)
6:31pm GMT - (3:27)
6:15pm GMT - (1:59)
5:09pm GMT - (1:02)
4:54pm GMT - (1:01)
4:53pm GMT - (1:30)
4:29pm GMT - (1:27)
2:27pm GMT - (1:11)
Featured Videos
Singing monsters, movie toys, and collectibles reign at 2019 Toy Fair
Toy makers came to New York to showcase the hottest products and trends in the industry
Design-your-own 3D virtual Lamborghini
Cloud-based technology from British company ZeroLight lets Lamborghini fans create a 3D virtual model from a limitless number of combinations
Spectacular World Cup of Snowkiting gets going in Italy
Snowkiters race across a frozen lake in Italy on either skis or snowboards to compete in the Snowkite World Cup
Living dangerously, one foot at a time, in 'Free Solo'
Climber Alex Honnold's death-defying ascent of El Capitan in California's Yosemite National Park is taking him to the Oscars, where a film about his feat will compete for the movie world's highest honour
The elusive black panther is spotted in Kenya
Images of a rare African black leopard - known as panthers - have been captured in Kenya, the first verifiable record of the animal for nearly 100 years
Technology »
8:42pm GMT - (2:00)
5:00pm GMT - (1:13)
11:29am GMT - (1:42)
Tue, 19 Feb, 2019 - (1:53)
Mon, 18 Feb, 2019 - (1:34)
Mon, 18 Feb, 2019 - (1:22)
Fri, 15 Feb, 2019 - (1:20)
Fri, 15 Feb, 2019 - (1:13)
Tue, 12 Feb, 2019 - (1:22)
Tue, 12 Feb, 2019 - (1:39)
Entertainment »
12:16pm GMT - (1:09)
6:17am GMT - (1:08)
Tue, 19 Feb, 2019 - (1:45)
Tue, 19 Feb, 2019 - (2:21)
Mon, 18 Feb, 2019 - (2:19)
Mon, 18 Feb, 2019 - (1:50)
Mon, 18 Feb, 2019 - (1:49)
Mon, 18 Feb, 2019 - (2:23)
Sun, 17 Feb, 2019 - (2:08)
Sun, 17 Feb, 2019 - (2:09)
Sports And Leisure »
7:26am GMT - (1:00)
7:25am GMT - (1:24)
Tue, 19 Feb, 2019 - (1:07)
Mon, 18 Feb, 2019 - (1:50)
Mon, 18 Feb, 2019 - (1:40)
Mon, 18 Feb, 2019 - (1:29)
Mon, 18 Feb, 2019 - (0:54)
Thu, 14 Feb, 2019 - (1:27)
Thu, 14 Feb, 2019 - (0:45)
Thu, 14 Feb, 2019 - (1:01)
Oddly Enough »
7:20pm GMT - (1:55)
Sun, 17 Feb, 2019 - (0:50)
Fri, 15 Feb, 2019 - (0:42)
Fri, 15 Feb, 2019 - (1:36)
Thu, 14 Feb, 2019 - (1:01)
Thu, 14 Feb, 2019 - (0:59)
Thu, 14 Feb, 2019 - (1:34)
Thu, 14 Feb, 2019 - (1:26)
Wed, 13 Feb, 2019 - (0:49)