Partly by default, and partly by design, Indian Prime Minister Narendra Modi has managed to assemble a newish-looking team for his second term. Hopefully, the freshness will carry over to ideas. The top job in the finance ministry opened up as Arun Jaitley, who held the position during Modi’s first five-year term, made himself unavailable for health reasons. The prime ...

The European Union’s (EU) move to discipline Italy for excessive public borrowing poses an awkward question: What use are rules that lack credibility against a member that acts in bad faith? The answer is not much. The EU’s fourth largest economy hasn’t just fallen short of complying with the bloc’s budget rules — its populist government has openly and repeatedly ...

When running for reelection, India’s Prime Minister Narendra Modi and his ministers stressed that, under his administration, India had become the world’s “fastest-growing large economy.” This was never much of an achievement; after all, the People’s Republic of China was in the midst of a significant slowdown even before the trade war. But even that no longer seems to be ...