European Union leaders offered near unanimous support for Lagarde, who is currently the head of the International Monetary Fund (IMF), and von der Leyen, now Germany’s defence minister. Charles Michel, prime minister of Belgium, was tapped to be the next European Council president. (The Logic)

Talking point: The deal ends five weeks of intense negotiations which pitted more establishment-friendly picks backed by German and French leaders against candidates pushed by socialist and far-right parties emboldened by recent gains in EU elections. The selection of this trio is a victory for the establishment camp. As managing director of the IMF, Lagarde oversaw a series of bailouts for struggling European economies, such as Greece and Italy, many of which are still facing significant difficulties that she will be responsible for addressing in her new role. It’s not a done deal yet, though. Von der Leyen is facing opposition from German parties in the European Parliament. If she is able to win their support, the deal put forward by EU leaders would see candidates from the socialist and liberal parties given positions as vice-presidents of the European Commission. Left-wing groups would also be rewarded with the position of European Parliament president as part of the deal. Far-right parties appear shut out of the senior leadership posts.