Political Turmoil

France, like many Western European countries, has strong campaign finance laws and a vibrant multiparty system. Yet even there, money has had a corrosive effect on democracy, as private donations have an outsized impact on electoral outcomes.

Austerity has nurtured resentments that will likely make the populist right PVV the biggest winner in the March 15 election — but without the majority or the allies needed to govern

Institute Governing Board member Anatole Kaletsky argues that the Trump Administration’s policies will boost inflation and spur interest-hikes as well as a stronger dollar more rapidly than many expect, but that the European Union’s economy is on the mend