The adoption of the euro in 1999 by 11 member states of the European Union created a single currency area second in economic size only to the United States. The euro zone's monetary policy is now set by the European Central Bank (ECB) and its Governing Council rather than by individual national...

Governments around the world are deeply divided about the proper role of industrial policy, with some politicians arguing for hands-off governance and others supporting government intervention to promote ""national champions""-- firms that receive government support for both political and...