Reuters: The European Union and Australia last August agreed to link emissions trading schemes, with the aim of injecting new momentum into flagging moves for a global carbon price.
Less than a year on, it is clear they have conflicting aims.
It should not be a surprise, their motives were probably in opposition from the start: on the European side to fuel demand for emissions allowances and lift carbon prices in its flagging market; in Australia, to access cheaper carbon credits.
Australia's view...