Would you trust a minister of finance explaining how he just fixed the latest euro-zone deal if he came out of the summit chambers tipsily waving a glass of wine? No? What about if he gave a press conference after an all-night session? Most likely nobody would even notice.
Yet 24 hours without sleep has (roughly) the same effect on decision-making as a 0.1% blood alcohol content (six glasses of wine in an hour). You would not be allowed to drive at this alcohol level, but you are apparently allowed to make major political decisions.
The example is from a blog essay (in Swedish) by Andreas Cervenka, where he asks the sensible question: can we trust sleep-deprived political leaders?