Fiscal Responsibility, Formalization, and the Modern Fiscal State

Sen. Lindsey Graham Dead At 71 Following "Brief And Sudden Illness" Lindsey Graham, the Republican foreign-policy hawk from South Carolina, died abruptly on Saturday following what his office described as "a brief and sudden illness," according to a statement posted on X. "On the evening of Saturday, July 11, U.S. Senator Lindsey Graham passed away from a brief and sudden illness. Senator Graham's family appreciates prayers at this time and asks for privacy during this incredibly difficult period," Graham's office said. Statement from the Office of U.S. Senator Lindsey Graham (R-South Carolina)....

China Sentences Evergrande Founder To Life In Prison Five years after Chinese property development firm Evergrande Group collapsed under the weight of enormous debt, founder Xu Jiayin was sentenced to life in prison on Thursday. Xu Jiayin, also known as Hui Ka Yan, founder of property developer Evergrande, appears for sentencing at the Shenzhen Intermediate People's Court in Shenzhen, China, on Aug. 20, 2026. Shenzhen Intermediate People's Court /Xinhua via AP Xu (Hui Ka Yan in Cantonese), 64, pleaded guilty in April to fundraising fraud, illegally taking public deposits, illegally extending loans, bribery, fraudulently...

Russia Seizes Assets Of Swiss Food Giant Nestle Russian authorities seized the remaining businesses and assets of Swiss food giant Nestle and three French groups, the latest move against Western firms in response to sanctions against Moscow.  A decree signed by President Vladimir Putin issued late Thursday transferred the Russian operations of Nestle, French retailer Auchan and the former Leroy Merlin DIY chain, now known as Lemana Pro, to a company called LEV Management. The decree also covers the Russian subsidiaries of French logistics group FM Logistic, France24 reported. Investigative outlet Novaya Gazeta Europe reported...