CIA Director John Brennan’s biggest concern the past few years hasn’t been Russian hacking, or even the wars in the Middle East, but what he calls “modernization” of the agency. In an effort to improve performance of this notoriously siloed organization, Brennan moved to fuse operations (the agency’s vaunted spies) and analysis (its less glamorous but no less essential ...

  It’s been two years since the European Central Bank decided to combat the region’s economic woes by expanding the supply of money, buying bonds and slashing interest rates to nothing. The moves effectively debased the euro, prompting a chorus of investors and strategists to opine that the shared currency would soon tumble to parity with the dollar for the ...

On Tuesday, UK Prime Minister Theresa May set out her fullest account yet of her aims in the forthcoming Brexit negotiations. Greater clarity was overdue, and welcome — but with it comes a clearer understanding of the enormous hazards Britain faces as this process moves forward. May said, “What I am proposing cannot mean membership of the single market.” That ...