There s a lot of money with a digital label on it – over €20bn, from the European Fund of Strategic Initiatives – possibly the shrewdest investor in the world.

The wretched publication you are reading right now once criticised Neelie Kroes for turning Europe into some idiot clog-wearing clone of Silicon Valley.

I m not pretending that everything in the EU is rosy.

And yes, Google has to pretend to look worried while the European Commission makes a big song and dance about investigating its business practices.

After a few years Larry, Sergey and Eric will get a theatrical slap on the wrist from some posturing Frenchman along with a pathetic fine.

They ll keep on handing over the dosh.

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