Milk producers across Europe are suffering. Belgian farmers stormed Brussels, joined by German and French colleagues. French farmers took to the streets of Paris. In Spain, farmers blocked highways. In the U.K., there were also protests though nothing of a Continental Scale. This milk riot appears to have been triggered primarily by a supply glut, as the EU scrapped milk quotas in April 2015.

For some time, media attention was focused on the demand shock, triggered by the closing down of the ...

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