I’ve never flunked an exam in my life,” quipped Silvio Berlusconi as he emerged from talks with Angela Merkel and Nicolas Sarkozy. The German-French examining commission seemed less sure. During the press conference, reporters asked: “Do you trust Mr Berlusconi?” Professor – sorry, President – Sarkozy made a face, headmistress Merkel raised her eyes to heaven and the whole classroom burst into laughter.

It was not a great day for Italy, which elected Mr Berlusconi in 2008 and now doesn’t know how to get rid of him. It’s true that most Italians were spared the embarrassment as the main television news – either owned or controlled by the prime minister – avoided the incident. But the situation is dire.

Ms Merkel called for Italy to act quickly to bring down its €1,900bn debt, equal to 120 per cent of its GDP, or twice the Maastricht limit. Mr Berlusconi last week said he was “in no hurry” to do his homework but after his scolding, he called an emergency cabinet meeting. The Northern League – his main ally since 2001 – said that raising retirement age to 67 was proibito. On Tuesday night Mr Berlusconi was as close to resigning as he’s ever been. What will he say at Wednesday’s eurozone final exam, if he gets there?