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https://www.barrons.com/articles/why-ecb-rate-hikes-risk-breaking-the-euroand-europe-51658464200

Europe is facing a summer of crises—one that is likely to test investors in the months ahead.

Amid a scorching heat wave, Germany is worried that Russia may cut off or reduce natural-gas supplies, which would devastate the economy and leave homes unheated in the winter. Italy’s government is on the brink of collapse. French President Emmanuel Macron is weakened after losing his parliamentary majority. And the euro recently dropped to a 20-year low against the dollar, in no small part because the European Central Bank is lagging far behind the Federal Reserve in raising interest rates.

Europe is facing a summer of crises—one that is likely to test investors in the months ahead.

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