Recent problems with Silicon Valley Bank and Credit Suisse are examples of the stress that interest rate rises are putting on the financial system. But relaxing monetary policy now risks entrenching inflation.
British politicians are more than capable of committing blunders, but so too are their continental opposite numbers.
European populism is partially a symptom of the EU’s fatal flaws. We were lucky to escape in 2016, but for the nations who remain, Britain’s role should be that of helpful friend, not mischief-maker.
It will take a vast New Deal of actual spending to lift Europe out of Coronavirus slump and head off a deflationary depression.
Tensions – political, economic and otherwise – have been exacerbated in the eurozone, as it tries to navigate the pandemic.