If you thought Emmanuel Macron was too much of a technocrat, you’ll only be partially convinced by his attempt to switch to a yellow vest. France’s president has fallen prey to the same curse that has afflicted all of his predecessors over the past decade: Angry protests over necessary economic reforms, and plummeting popularity. Despite his solid start as a ...

Not long ago, EU leaders were talking about a grand bargain to reform their currency union. It isn’t happening. Europe’s finance ministers have just approved a package of reforms to strengthen the monetary union. Their plan falls far short of what’s needed. The new proposals aren’t worthless — any steps to better equip the euro zone to deal with the ...

India’s government is conducting a dangerous experiment in economic management. This week, following renewed pressure to conform to the government’s thinking, the head of the Reserve Bank of India (RBI), Urjit Patel, resigned, citing “personal reasons.” Prime Minister Narendra Modi’s officials have challenged the RBI’s operational independence before, but their latest effort marks a significant escalation. It’s a pattern seen ...