1. By his act of betrayal, Clegg will lose his greatest reward (Guardian)

The voters will punish Clegg by denying him the result on AV that he craves, says Peter Wilby.

2. Europe should rescue banks before states (Financial Times)

Emergency funds ought to be used to recapitalise banking systems, writes George Soros.

3. Sad fact is that Italians cannot conceive of life without him (Independent)

Silvio Berlusconi's conservative coalition has endured better than any other contemporary Italian political arrangement, writes Peter Popham.

4. Tuition fees aren't the only thing Nick Clegg has to be ashamed about (Daily Telegraph)

The Lib Dem leader's breathtaking retreat from principle is reaping its just reward, argues Simon Heffer.

5. Nasty and Nicey, a recipe for Tory disaster (Times) (£)

If the Lib Dems get the credit for being the coalition's moderating force, it will be fatal for Conservative prospects, says Daniel Finkelstein.

6. India must spread its wealth more evenly (Independent)

In India, the problem is how to manage growth to the benefit of all, writes Hamish McRae.

7. Barack Obama has lost his mojo. But yes, he can find it again (Guardian)

Modest advances against hostile forces can make Obama's presidency a success, says Michael Tomasky.

8. George Osborne's silence over inflation is worrying (Daily Telegraph)

Any recovery built on unsound money will be shaky, warns a Telegraph leader.

9. Why rising rates are good news (Financial Times)

Rates are rising as depression psychology dwindles, argues Martin Wolf.

10. This localism bill shows Eric Pickles is Hazel Blears in super-sized wolf's clothing (Guardian)

Like Labour, Pickles and his colleagues lack the courage of their declared convictions, writes Simon Jenkins.