On Thursday, the European Commission, the European Council and the European Parliament will all debate a proposal by Philippe Lamberts MEP, a Belgian Green, to cap bankers’ bonuses at a fixed rate of 100 per cent of salary.
Good stuff. But if we needed the European Commission, the European Council or the European Parliament to do these things, and that in this of all countries, which at least nominally contains the City of London, then there would be no point in having either the Parliament of the United Kingdom or the Labour Party. Is there any such point?
Surely the City of London is not a state within this state, a violation of our sovereignty as much as any subordinations to the the European Commission, the European Council or the European Parliament? Is it?