Tensions over immigration continue to dominate European politics. In Italy, Interior Minister Matteo Salvini, a populist firebrand, is monopolizing the public’s attention with almost daily
For years, the eurozone has been perceived as a disaster area, with discussions of the monetary union’s future often centered on a possible breakup. When
Without anyone quite noticing, Europe’s internal balance of power has been shifting. Germany’s dominant position, which has seemed absolute since the 2008 financial crisis, is
The developed world seems to be moving toward a long-term zero-interest-rate environment. Though the United States, the United Kingdom, Japan, and the eurozone have kept central-bank
The discussion has so far followed easily predictable national patterns: Creditor countries do not object to deflation, because it increases the real value of their
