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The Third Way's second chance

The idea that govts should combine social-democratic values with modern liberal economics is finding renewed favour

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Meeting of minds: Italy's Prime Minister Matteo Renzi (right) talking to his French counterpart Manuel Valls (left) and Spain's Socialist Party leader Pedro Sanchez (centre) at a meeting in Bologna on Sept 7.

REMEMBER Tony Blair and Bill Clinton's Third Way? It is back. The faces and names have changed but the idea that governments can - and should - combine social-democratic values and modern liberal economics has returned to centrestage.

At a June 2000 gathering of leaders in Berlin, hosted