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Hello,
Python 2.7.8 and Python 3.4.2 (from Debian testing) have a different behavior on the attached file. Python 2 raises "bar", Python 3 raises "foo".
I can't find an adequate explanation in the documentation for this behavior difference. It probably relates to https://docs.python.org/3/reference/compound_stmts.html#try (search for "When an exception has been assigned") but this is unsatisfying because it only talks about the "as target" construction, which is not used in the example.
I think that at least the documentation should be clarified to point out what "raise" without arguments will do. Currently the documentation of this in Python 2 and 3 is the same even though the behavior is different https://docs.python.org/2/reference/simple_stmts.html#raise https://docs.python.org/3/reference/simple_stmts.html#raise.
Note: this question was originally asked on SO: http://stackoverflow.com/q/28698622/414272. I reported this as a bug at Terry Jan Reedy's request https://stackoverflow.com/q/28698622/414272#comment45707744_28698622.

There is this bit in https://docs.python.org/3/library/exceptions.html : 
> When raising a new exception (rather than using a bare raise to re-raise the exception currently being handled),...
I presume this can be also suitable for tutorial if it's not already there.

For the Python 3 case, the documentation is vague and probably wrong, depending on what you understand "the current scope" to mean. I think it should read something like
. . . raise re-raises the current exception that is being handled. If no exception is being handled, a RuntimeError exception is raised indicating that this is an error.
I’m not sure but I suspect Python 2 is different because does not save the original exception when it handles a nested exception. In other words, at the point where the nested "bar" exception is raised inside the "foo" handler, Python forgets that "foo" was being handled.

Here is a patch for Python 3. The re-raise behaviour reported by Antoine is already tested in test_raise.TestRaise.test_except_reraise().
My patch also clarifies some details about how __context__ is set:
* Context is the exception being handled, not necessarily the last exception
* "With" statements can influence context
* Re-raising does not set context; must be new exception object
* Add test case when context is not the last exception
I’m not so experienced with Python 2’s exception handling, so I haven’t got a patch for that. I suspect there is some shared "last exception" context. I wonder how it interacts with generators, multi-threading, __del__() and other callbacks, etc.

In pyflakes we've looked at some of the strange scenarios where a raise without argument is 'legal'. A patch to report errors for some of these was rejected because they are legal. See https://github.com/pyflakes/pyflakes/pull/57 The worst example of 'legal' is an exception in one module can be re-raised by another module.

Martin's patch needs to be converted to a GitHub PR and then reviewed.

@kinshukdua - can you explain why you closed the PR and whether you are interested in reopening it and finishing this?

@iritkatriel I thought the PR won't be reviewed after being marked as stale that's why I closed it. I've reopened it and I'm interested in finishing it.

New changeset 08c0ed2d9c0d01ad1a5adc0787bc75e4e90cbb85 by Kinshuk Dua in branch 'main':
bpo-23556: [doc] Fix inaccuracy in documentation for raise without args. Improve tests for context in nested except handlers. (GH-29236)
https://github.com/python/cpython/commit/08c0ed2d9c0d01ad1a5adc0787bc75e4e90cbb85

New changeset 1440dd343871645c187028916dd6ee97300d2557 by Miss Islington (bot) in branch '3.9':
bpo-23556: [doc] Fix inaccuracy in documentation for raise without args. Improve tests for context in nested except handlers. (GH-29236)
https://github.com/python/cpython/commit/1440dd343871645c187028916dd6ee97300d2557

New changeset 2572c670d42887e4b1d2475b8da2e9bf6e0aa558 by Miss Islington (bot) in branch '3.10':
[3.10] bpo-23556: [doc] Fix inaccuracy in documentation for raise without args. Improve tests for context in nested except handlers. (GH-29236) (GH-30953)
https://github.com/python/cpython/commit/2572c670d42887e4b1d2475b8da2e9bf6e0aa558

Thank you @a3nm, @kinshukdua2 and @martin.panter.