Updated 10 June. Two political developments threaten Europe: A no-deal Brexit that would certainly hurt the British economy but would also be painful on the continent, and an out-of-control deficit in Italy. Taken separately, Europe could handle the issues. But

...and a modest proposal to fix it. The first lesson from Brexit, the UK vote to leave the European Union, should have been this: that a referendum is a bad idea, it weakens democracy and leads to potentially hugely damaging political

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