Is the City of London Already Outside the EU?

There’s been a lot of speculation in recent months over how the City of London will fare after the UK’s separation from the EU, including in articles I’ve written for Wolf Street (like this one and this one). But according to German Economics Prof. Richard Werner, the City of London is already outside the EU, since its non-democratic system of governance, which gives corporations a direct vote in elections, and separate sovereign status disqualify it from the EU’s basic membership rules. Personally speaking, I’m not entirely sure how true Werner’s assertion is but it certainly raises some very interesting questions, not least of all:

How can the City of London be a member of the EU if its system of governance contravenes the basic rules on EU membership?

Would be great to hear from anybody who knows more on this issue. In the meantime, here’s the full interview Werner gave to Renegade Inc earlier this year, which is definitely worth 15 minutes of your valuable time:

One thought on “Is the City of London Already Outside the EU?

  1. The People That Be need a safe shelter from socialism and that place is City of London Inc!
    If all over the so called “free” countries companies were allowed to vote, there would never be a socialist country ! TPTB for them want a real democracy where everyone in the “ecosystem” can vote.
    Companies like persons, they born, pay taxes, and die!
    Socialism was the form TPTB managed to strip countries assets legally and without firing a single shot

    Like

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