Only one thing about the Copenhagen Summit is absolutely clear: it will not be the last word in climate change negotiations. Barack Obama, speaking in Singapore on Sunday, confirmed that a binding treaty will not emerge from next month's talks. He suggested that participants should aim instead for agreement on a "political"� deal that should serve as a framework for a formal treaty that can be agreed later.

This has been dubbed the "one agreement, two step"� approach by Lars Rasmussen, the Danish prime minister. There are dangers to it: countries may now feel less pressure to fall into line. Next month's talks in Denmark may still end in acrimony and collapse.

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