All four pillars of the EU’s economic strategy and great power project now lie in ruins. Every domino has fallen.

Europe sub-contracted its energy supply to Russia and its manufacturing supply-chains to China. The hurricane of events over the last five years have exposed the blind complacency behind those bad bets. It is less understood that Europe also sub-contracted its aggregate demand to the rest of the world over long stretches of the last quarter century.

Europe surfed on the consumption of deficit states – chiefly the US – rather than generating its own demand. It was always tempting fate. This neo-mercantilist bet has, at last, gone horribly wrong as well. There was a Europe before Turnberry. There will be a profoundly different Europe after Turnberry. “This EU is finished. The bureaucratic oligarchy has run the European economy and institutional system into the ground.

But rather than asking themselves where it all went wrong, they have sought a scapegoat – turning their fury on the commission’s Ursula von der Leyen, vilified for going to Canossa and kneeling at Trump’s personal fortress. Perhaps the EU has touched rock bottom. Perhaps not. Either way, these travails do not seem to have intruded on the political consciousness of Britain, where Europe is a romantic idea best enjoyed from a distance.

Needless to say, Europe has been the chief casualty of its own policy. It was so obsessed with enforcing austerity in order to make the euro “work” that it cut investment to the bone all through the lost decade and played itself out of the digital revolution.

It continued hollowing out its military defences even after Russia seized chunks of Ukraine in 2014. It spent so many summits dealing with the contradictions of monetary union that it failed to think properly about anything else.

Would the disparate nation states of Europe be richer, happier, better defended and more competitive in the global economy today if the EU had not launched the euro? Would its relations with the US be better if it had not tried to turn itself, against nature, into a unitary great power with the barely concealed agenda of overthrowing the dollar and reversing post-War American dominance?

Undoubtedly. But will you ever hear this acknowledged in European high circles? Never.