If only present day global competition were confined to the World Cup. But while eyes have turned back to a new crisis in Iraq—something I’m not exactly proud of predicting here—at least there has been progress on the Ukraine crisis, which has gone from boil to simmer in recent weeks. At this stage it has become clear that Russia has blinked, and thus will not be swallowing eastern Ukraine whole. Just as important, we now have clear as day evidence that President Putin’s gambit has failed: Ukraine has not only signed the EU trade agreement that former President Yanukovych walked away...