Christine Lagarde

Britain's exit from the EU will lead to a slight decline in welfare, said Christine Lagarde, director of the European Central Bank, in an interview with the BBC.

Christine Lagarde was endorsed by EU leaders as the next President of the European Central Bank (ECB).

The European Council endorsed Christine Lagarde as President of the ECB. She will replace the now former ECB President Mario Draghi from 1 November. 

Earlier, her candidacy was endorsed by The European Parliament and the Council of the EU.

Greek Finance Minister Christos Staikouras is heading to Washington to attend the annual meeting of the International Monetary Fund (IMF) and the World Bank.

The new IMF Managing Director Kristalina Georgieva takes office today.

Recently, she said she was "ready to be put to the test" at a time when wars in the global economy were coming up at several fronts, British Sky News and BGNES reminded.

Global economic growth continues to be disappointing, trade tensions remain, and debt burden is increasing in many countries. In this context, my immediate priority for the IMF is to help members minimize the risk of crises and be prepared to cope with economic downturns.

The Executive Board of the International Monetary Fund (IMF) today selected Kristalina Georgieva to serve as IMF Managing Director and Chair of the Executive Board for a five-year term starting on October 1, 2019. Ms. Georgieva, who succeeds Christine Lagarde, is the first person from an emerging market economy to lead the IMF since its inception in 1944.

Mario Draghi, the outgoing president of the European Central Bank (ECB), will visit Athens next week (Oct. 1) to attend and speak at an event held in his honor at the Academy of Athens.

The International Monetary Fund Board of Directors is expected to approve Kristalina Georgieva as managing director of the financial institution on Wednesday. The Bulgarian is the only candidate and enjoys the support of both the European Union and the United States.

Former head of the International Monetary Fund, Christine Lagarde, warned that global growth is "fragile" and "threatened," and that politicians must work to reduce people's vulnerabilities.

The European Parliament has voted Christine Lagarde's nomination as President of the European Central Bank.

Lawmakers voted 394 in favour, 206 against and with 49 abstentions in the parliament's plenary in Strasbourg.

The approval of Lagarde's nomination is uncertain, as the final decision on her appointment is taken by the European Council.