A vision of the future of EMU. The speech given by the president of the European Central Bank on 2 June is an exception to the rule that you should never comment belatedly on a speech or declaration on the problems of the euro, because it will only remain relevant for a very short time. Somebody may be all doom and gloom one day only to change their mind a couple of days later, see positive developments or even juggle with the way their words were interpreted; and sometimes the words of the...