Philip Stephens on why Copenhagen should be a ’successful failure’

From the Financial Times:

There is a real danger, of course, that if Copenhagen does not live up to the Bali billing, the world’s political leaders will gradually back away even from more modest measures to slow the warming of the Earth. Given the condition of their economies, many of them need only the flimsiest of excuses to avoid confronting their voters with higher energy prices.

Yet from talking to officials preparing for next month’s summit, I have the impression that things are not quite as bad as they might seem. While severely irritated at the US stance, European officials say it is more about timing than substance.

Read the rest here.