The appointment of Italy’s new central bank governor has turned into a depressing power struggle. But for all the elements that make this a uniquely Italian affair, it also raises broader questions about how a country should balance independence and accountability in the event of a possible central bank failure. Matteo Renzi, the former prime minister and leader of the …

Nobody was surprised that the European Union’s leaders refused to move the Brexit talks forward at last week’s summit. German Chancellor Angela Merkel and European Council President Donald Tusk talked of progress and suggested there’d be more at the next gathering in December, but this speck of encouragement shouldn’t obscure the bigger picture. The process is moving too slowly, and …

Bloomberg India’s state-run banks surged in Mumbai trading after the government pledged to inject an unprecedented 2.11 trillion rupees ($32 billion) of capital into the beleaguered lenders to revive credit growth. State Bank of India jumped as much as 25 percent, the biggest intraday gain in eight years. Punjab National Bank advanced as much as 40 percent. The Nifty PSU …