The German Chancellor, Dr Helmut Kohl, and his re-election chances have been hurt by the compromise on the European Central Bank (ECB) presidency, given his efforts to guarantee the integrity of the new European currency, commentators said yesterday.
The conservative Frankfurter Allgemeine newspaper said: "Kohl left for Brussels determined to see Dutch banker, Wim Duisenberg serve the full term. He came back with a mandate cut in half."
The Berliner Zeitung said: "The chancellor wanted to base his campaign on the euro. Monetary union is in fact the only theme on which voters still see Kohl better than his rival [Social Democrat candidate] Gerhard Schroeder.
"But with his inglorious concessions, he will have a hard time explaining how he plans on being a factor in the major reforms of the European Union."
Dr Kohl is crippled at home for September's general elections by record post-war levels of unemployment. But he had repeatedly stressed in the run-up to the weekend EU summit that Germany needs him - and his 16 years of experience as chancellor - to shepherd in the euro, much as he oversaw the unification of Germany in 1990.
He said in parliament last week that he was sure fears among most Germans about the new currency would prove unfounded, as it would be as strong as the mark that has stood for economic strength in Germany since the second World War. The compromise at the summit, however, splitting the eight-year ECB presidency term between Mr Duisenberg and Mr Jean-Claude Trichet of France, leaves Dr Kohl looking inept. In March he had called such a deal "absurd" and contrary to the Maastricht Treaty that lays the groundwork for the euro.
The dispute in Brussels showed political quarrelling over a central bank that is supposed to be independent in its administration of the euro, the currency that will begin with 11 nations on January 1st.
And it showed the French-German rivalry at the heart of the administration of a currency for which the Germans had been looking to Mr Duisenberg to guarantee as inflation-protected as the mark.
For the German opposition Social Democrats, Ms Ingrid Matthaeus-Maier said Dr Kohl was responsible for the dissension in Brussels that left him opposing the French President, Mr Jacques Chirac, who wanted Mr Trichet to be appointed for half of the eight-year term.
Mr Chirac prevailed, and Ms Matthaeus-Maier said Dr Kohl was at fault for "mismanagement" and not being properly prepared.
Her interpretation was echoed by the conservative newspaper Die Welt, which reported that even Dr Kohl's two main lieutenants in Brussels, his Finance Minister, Mr Theo Waigel, and central bank chief, Mr Hans Tietmeyer, had objected to the compromise and that Mr Waigel had criticised the German delegation's lack of preparation in the face of French intransigence.
Ms Matthaeus-Maier said Dr Kohl had lost his claim to be able to "solve problems in Europe".
She reiterated the widespread reaction in Brussels and Germany that splitting the ECB presidency term violated the spirit of the Maastricht Treaty.
Mr Herbert Hax, one of the so-called "five wise men" who advise the German government on economic issues, told the Berliner Zeitung: "The eight-year mandate envisaged in the Maastricht Treaty was carefully thought out . . .
"We cannot choose someone who declares beforehand he will resign," Mr Hax said, referring to the deal whereby Mr Duisenberg will step down after four years in favour of Mr Trichet. He said the independence of the ECB had been undermined by the political manoeuvrings.