Under normal circumstances, the election of Barack Obama would have meant a lot for your wallet. As a candidate, Obama promised to shift the burden of taxes toward the affluent, get health coverage to the uninsured and slap tougher regulations on financial products. But these aren’t normal circumstances. Major...

For the British, skiing in the Alps has suddenly become unaffordable and those summer vacations on the Costa Brava are under grave threat. The pound, formerly one of the world’s most expensive currencies, is only worth a bit more than the euro. Brits, however, are still insistent in their...

Euro zone economic sentiment hit an all-time low in December and German exports posted a record drop, pointing to a fast-deepening recession and piling pressure on the European Central Bank to keep cutting interest rates. The European Commission said economic sentiment in the 15 countries using the euro fell...

First Merkel said Germany didn’t need a new economic stimulus package. Then she said there would be no tax cuts. But on Friday, her party presented its proposal for a 50 billion euro plan, complete with lower taxes. And it comes not a moment too soon. Germany’s first economic...

Bleak economic data in Europe and disappointing December retail sales figures in the United States unsettled financial markets on Thursday, strengthening the case for more government stimulus and encouraging rate cuts. The Bank of England, which cut its key interest rate to an historic low of 1.5 percent from...