"Peace in our time"

Fresh from the farce: Neville Key speaks out.

"What we have at this point is a political statement; we don't have a legally binding agreement," Key told reporters.

"What we do have is something which is progress towards that agreement, and subject to the conditionality and the rule changes that New Zealand's been looking for then we look as if we could sign up to that."

Key said New Zealand was comfortable with the text and it could meet the conditions without having to change its mid-term or long-term greenhouse gas emissions targets.

"It is progress but I think it falls well short of the expectations and aspirations people had for Copenhagen."

And

it abandoned earlier ambitions for any deal in Copenhagen to be turned into a legally binding treaty next year

Thank God for that.