In 2014, a $1 billion bank fraud nearly bankrupted the tiny state. It came through in better shape thanks to reformist policymakers, an IMF bailout and the sale of big banks. But a Russia-leaning administration now threatens to undo those reforms.

Britain’s Conservative Party has been at pains to distance itself from the mainstream of European politics in recent years, but seems remarkably comfortable in its murkier shallows.

First foreign investor for troubled sector since 2007; Bancpost acquisition boosts lender to top of domestic market.