The situation in reality. The rumours that Nicolas Sarkozy is hoping to extend his chairmanship of the Eurogroup at the highest level have raised a number of pointless debates. Impassioned personal reactions are never the best, whether they come from Prague or Berlin. It is more useful and reasonable to start by taking an objective look at the situation, the essential points of which are as follows:
a) the Eurogroup (a name which, incidentally, even the French speakers have started to...