A good compromise is one that leaves everybody equally unhappy. Seen from this angle, last week’s European agreement on new stability rules for the embattled euro currency was a bad one.
European leaders tried their best to make it seem as if their summit’s result made everyone equally happy. Suddenly everyone was a winner – those who wanted to impose stricter rules for fiscal stability in Europe as well as those wishing to keep more political flexibility. After tough negotiations, they all managed to assert their positions, at least so they claimed.
When the solution to a contentious issue produces only winners and no losers, the observing public needs to be suspicious. Especially if the solution comes out of the EU headquarters in Brussels where the habit of producing rotten compromises has morphed into a diplomatic art form.
