IF the government wants to protect the UK's financial services industry from the rules imposed by the EU, there is a simple, and elegant solution - grant to the City of London it's full Independence, as a City-State, and write treaties with it, so that the City's contribution to the exchequer can be guaranteed.
This is not such an implausible idea The City already has its own 100 member parliament - older than the one that sits at Westminster. It can pass legislation,and cannot be Ultra Vires within its jurisdiction; Acts of Common Council are binding within the City's jurisdiction. In many respects is it already quasi-independent.
The government would not need to do anything to create a democratic system artificially,or set up a parliament,or other structures of a State, as these already all exist. The City of London has its own bicameral parliament, its own judiciary, and its own military ( though the latter is now vestigial). All that would be required is an Act of Devolution, and a few treaties would need to be negotiated, so that the City can function effectively as a partner with Great Britain. Cameron's and Osbourne's problems with EU regulation affecting the financial services industry in the UK would be solved at a stroke of a pen.
This is not such an implausible idea The City already has its own 100 member parliament - older than the one that sits at Westminster. It can pass legislation,and cannot be Ultra Vires within its jurisdiction; Acts of Common Council are binding within the City's jurisdiction. In many respects is it already quasi-independent.
The government would not need to do anything to create a democratic system artificially,or set up a parliament,or other structures of a State, as these already all exist. The City of London has its own bicameral parliament, its own judiciary, and its own military ( though the latter is now vestigial). All that would be required is an Act of Devolution, and a few treaties would need to be negotiated, so that the City can function effectively as a partner with Great Britain. Cameron's and Osbourne's problems with EU regulation affecting the financial services industry in the UK would be solved at a stroke of a pen.
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