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A spectre is haunting Europe , my friends. That spectre has a famously toothy grin and an eye of glistering sincerity and an almost diabolical gift of political self-reinvention. Barely two years after he stood down as prime minister, it seems that Tony Blair is about to thrust himself back into our lives. It turns out that he is not content merely to be in charge of brokering peace in the Middle East – which you would have thought was a full-time job for anyone. It isn't enough to potter around the world making speeches about climate change and Africa. He wants more, much more, than to consecrate his remaining days to the promotion of inter-faith dialogue and school sport.

With his colossal mortgages in Buckinghamshire and London's Connaught Square,...