Poor German leadership in this crisis has exacted an increasing economic and social price from Greece, Ireland, Portugal, Spain, Italy, Belgium and France. The longer Germany insists on putting fiscal austerity ahead of growth, the more likely it becomes that Germany, too, will suffer economic pain.But there is a dig for Sarkozy as well:
The world has gotten used to failed European summit meetings. What is particularly disheartening about this one is that some European leaders seem to believe they succeeded.And no one has been more assiduous at painting failure as success than Nicolas Sarkozy.
Martin Wolf is equally censorious in the FT.