This morning has been noticeably warmed by the collective sigh of relief breathed by the world. Over breakfast, as I stretched to catch snippeted Yes-We-Cans on the radio, my wife tried to calm me down by arguing that Barack Obama isn't our president. Except that he so is.

In Europe, we have become used to being investors. A while back we were passively watching our banks collapse. Now we are now proud public owners of our own houses of cards. We now sense that, having watched America for the last eight years, we can now play a part in its next eight (can you feel the hope?). Europe is hugely invested in this election, as Jonathan Freedland has been arguing, at our event a couple of weeks back and elsewhere. And let's face it we've been overwhelmingly on one side of the fence. Rather than the quadrennial incomprehension that had seemed habitual,  America and Europe might now be thinking alike.

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