*  *  *  Summary The governance of structural reforms deserves as much attention as enforcing fiscal rules and should be done at the euro area level, ECB President Mario Draghi said in a speech in London on Wednesday. Structural reforms need strong domestic ownership since they reach deeply into societal arrangements.
Now the story goes that, one day, a tourist got very nervous half-way up the cliff. He noticed that the rope attached to the basket he was in looked quite old and rather frayed. So he asked the monk who was accompanying him if they ever replaced the rope.