'Then the Canalettos Go'

British Prime Minister Harold Macmillan waves at the door of No. 10, Downing St., on Oct. 8, 1963 Photograph by Bentley Archive/Popperfoto

With governments borrowing costs down and European bank stocks up, any sense of urgency among Europe s leaders about fixing the euro area s institutional flaws seems to have evaporated. Complacency rules.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.