According to Valéry Giscard d'Estaing, a “two-speed” Europe is inevitable. Negotiation on the financial perspectives for 2014-2020 is entering the crucial phase of determining the future of Europe (see this column the day before yesterday). There are already a number of results, however. The most significant relates to the two-speed Europe, or perhaps a Europe with more than two speeds. It is out of the question to rule out participation by any member state, it being more a matter of...