The package of appointments also includes the head of the EU parliament, the foreign policy chief and the president of the leaders' council.

Key Developments:

IMF Chief Christine Lagarde chosen for European Central Bank president

Germany's Ursula von der Leyen chosen for the commission presidency

Spain's Josep Borrell chosen for the foreign-policy chief position

Leaders Chose Lagarde, Von Der Leyen for Jobs (7:12 p.m.)

Leaders came to an agreement on the jobs package, according to a tweet by Luxembourg's Prime Minister, Xavier Bettel. Choices include:

European Commission President: Ursula von der Leyen

European Council President: Charles Michel

EU Foreign-Policy Chief: Josep Borrell

European Central Bank: Christine Lagarde