The systematic Eurosceptics and prophets who declared that the project of European unity had failed have not been having an easy time of it recently! Progress in economic governance and consolidation of Economic and Monetary Union (EMU) has been patently obvious this week (see our publication yesterday) and we can already take it as read that: a) the first European budgetary semester will begin at the beginning of next year; b) that reform of the Stability and Growth Pact will be in force a...