David Lewis, Lord Mayor of London and standard-bearer for the UK financial industry in the world, visited the UK Office on 31 July to address a meeting of the Association of European Journalists. He was greeted by the Chairman of the AEJ, William Horsley and by Dermot Scott, head of the UK Office.
The Lord Mayor described his office, extant since 1189 and guaranteed by Magna Carta; he answered questions about the main challenges facing the City (transport and tax); he explained the importance to the City of the good health of all other world financial centres; regulation, and the evident shortcomings of the US system; the importance of the European economic trading area to the health of the City; and he expressed the view that we should all come out of the present financial crisis in 18-24 months. He felt that the City and the UK Government work hand in hand in dealing with EU legislation, and said that the result often was to improve European standards, while leaving the UK free to apply it higher standards.