Europe’s high-wire act
The financial markets are not as nervous as they once were, but political divisions could undermine the progress that has been made
Appeared in print on 30.10.2012
A note of surrealism suffuses the European political economy. Despite a lack of decisive action to tackle unresolved political and economic threats, financial markets have cast off the extreme nervousness that was their habitual garb just a few months ago. But is this inducing a dangerous complacency among government leaders?