Bulgaria's European commissioner Kristalina Georgieva, who unsuccessfully sought the post of United Nations Secretary-General in September, has been named as chief executive of the World Bank.

 

The European Commission said on Friday that Georgieva, a vice-president at the EU executive who is responsible for the EU's budget, will resign and take up her new job in January.

 

Germany's Gunther Oettinger, the European commissioner responsible for digital economy policy, will take over the portfolio, which will handle talks on how to manage the EU's budget after Britain leaves the European Union.