  We study quantum gravity in $2+\epsilon$ dimensions in such a way to preserve
the volume preserving diffeomorphism invariance. In such a formulation, we
prove the following trinity: the general covariance, the conformal invariance
and the renormalization group flow to Einstein theory at long distance. We
emphasize that the consistent and macroscopic universes like our own can only
exist for matter central charge $0<c<25$. We show that the spacetime
singularity at the big bang is resolved by the renormalization effect and
universes are found to bounce back from the big crunch. Our formulation may be
viewed as a Ginzburg-Landau theory which can describe both the broken and the
unbroken phase of quantum gravity and the phase transition between them.
