Bloomberg Portuguese PM Antonio Costa prodded two opposition parties into supporting fiscal discipline, staking his claim as a champion of responsible budgets ahead of a national election on October 6. The maneuvering reduces the likelihood of political turmoil in a euro-area country that required a bailout in 2011 and gives additional signals about the terms on which parties will contest ...

If you read only one history of the global financial crisis and the turbulent decade that resulted, I recommend “Crashed: How a Decade of Financial Crises Changed the World,” by Columbia University historian Adam Tooze. Few authors are as capable of weaving together economics, policy and geopolitics into a coherent whole. Not only does Tooze cover every critical aspect of ...

South Korea doesn’t need another rescue from the International Monetary Fund (IMF), but it is stuck and does need a new model. News hasn’t been great lately for the nation, sandwiched between slower growth in China and Japan. Gross domestic product (GDP) shrank last quarter in what was probably a shock, not just to economists who anticipated a small increase, ...