EU parliamentary committee backs Lagarde's ECB bid - Biggest tax fraud case in Germany goes to trial
German businesses have already been suffering from the negative effects of Brexit, said Holger Bingmann, head of the foreign trade industry group BGA, pointing out losses to German exporters worth €3.5 billion this year.
Outgoing ECB President Mario Draghi has achieved his goal of further cuts to interest rates and the renewal of bond buying for the euro area. But some policymakers are skeptical that the move was necessary.
Christine Lagarde has stepped down as managing director of the International Monetary Fund, saying she now has more clarity on her nomination to be the next head of the European Central Bank.
IMF Managing Director Christine Lagarde will become the European Central Bank's next president in November. If she replaces Italy's Mario Draghi, a huge change in the eurozone lender's policy seems unlikely.
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