Having spent many years rallying troops on the edge of despair, Mr Ashdown now finds himself in the unusual position of dealing with the consequences of success.

ECONOMIST: The party is either being very clever, or very stupid

Although Mr Rudd drove many to despair, the brutal manner of his exit has left her with problems.

ECONOMIST: Australia's neck-and-neck election

To Mr Peres, who believes there is still hope of talking peace with Mr Arafat, who knew, and approved, of his negotiations with Mr Korei, unilateralism is a counsel of despair.

ECONOMIST: Israel and the Palestinians