We are always much too keen to bury one plank or other of European construction. How many times, last winter, did we hear that the Stability Pact was dead! That the Economic and Monetary Union had crashed and burned, and that the death of the Euro was imminent! In reality, the (genuine) crisis of the Stability Pact seems to have jump-started things. The institutions and most governments reacted with the well-known reflex: we criticise what we have, but when it looks like we might lose it, we...