The Executive Board of the International Monetary Fund selected on Tuesday Christine Lagarde to serve as IMF Managing Director and Madame Chairman of the Executive Board for a five-year term starting on July 5, 2011.
France's Christine Lagarde picked up an endorsement from China Monday, raising her chances to become head of the International Monetary Fund. The IMF board is expected to make the decision between Lagarde, France's Finance minister, and Mexican Central bank chief Agustin Carstens as early as Tuesday.
French banks have agreed to roll over holdings of Greek debt for 30 years, President Nicolas Sarkozy said on Monday, as the Greek government tries to persuade backbench rebels to back a crucial austerity plan to avert bankruptcy.
Dutch and British health officials advised people to avoid raw sprouts and seeds after scientists linked an outbreak of E. coli in France to a highly toxic one in Germany that has killed 47 people.
The verbal escalation between the Argentine and British governments in the Falklands/Malvinas Islands sovereignty issue continued Monday with strong exchange of statements.
The International Criminal Court issued an arrest warrant for Libyan leader Muammar Gaddafi, and rebels trying to oust him said their forces had advanced to within 80 km of the capital Tripoli.
The newly elected chief of the United Nations food agency, FAO, anticipated on Monday high and volatile food prices will persist for several years. Brazil's Jose Graziano da Silva was elected on Sunday to replace Senegal's Jacques Diouf.
Fresh evidence shows that Chinese local governments commit the same sins as their counterparts in South America and even Spain, where most provinces, states and regional autonomies traditionally pile billions of dollars in debt that following some political arrangement are finally bailed out by the central government.
US/UK Hungarian born billionaire investor George Soros says a country will eventually exit the Euro zone and urged policymakers on Sunday to come up with a plan B that could rescue the European Union from looming economic collapse.
The United Nations’ food agency, FAO, elected Brazil’s Jose Graziano da Silva as its Director General, the first new leader in almost two decades as the world faces near-record food prices that are driving millions into poverty.