Against all expectations, it struck a morally advantageous posture by offering to surrender some part of its budget rebate, but only if the rest of the European Union (i.e. France, in particular) would agree to fundamental reforms of EU farm policy. It took some time before the British came to understand that since President Jacques Chirac is a beleaguered lame-duck President, who will remain in office but not in power until 2007, he is in no position to agree to any such bargain.