France’s central-bank chief resigned unexpectedly, handing President Macron a tricky appointment at a fragile moment. It lands while the country is still struggling to pass a budget.

Germany’s factory orders fell sharply, yet Spain and Italy’s plants kept humming on European recovery money. The week showed a continent pulling in very different directions.

Today’s Europe Intelligence Brief covers the region’s finance, markets, economy, and politics. We pulled it together from German, French, Italian, Spanish, Dutch, and English sources.

France — The Central-Bank Chief Quits

An Unexpected Resignation