Puerto Rico’s legislature declined to pass a set of tax laws that would have opened up some extra financing to the island. Severe cuts to services, and perhaps even a disorderly default, are now in the cards.
Modi’s program of liberal economic reforms is the most important part of his agenda for the future of India. But changing the tax system to make India more attractive to foreign businesses is proving harder than many had hoped.
Poland heads for presidential elections tomorrow, which are likely to be a predictable—even boring—affair. What a nice contrast with the rest of Europe, and what a remarkable achievement.
Once the toast of Washington, the post-communist countries of Eastern and Central Europe are at risk of descending into corruption and drifting into Russia’s orbit.
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