The Corporation of London's plan to open a lobbying office in Brussels came as a surprise. It will be welcomed by some and viewed with suspicion by others. The corporation says it wants to influence Europe's financial wholesale markets and help co-ordinate lobbying by London trade associations and banks. As many of these are already active in Brussels, there may be a danger of overlap. Yet co-ordination of lobbying efforts could be seen positively by overstretched European Commission officials.

Timing is important. Assuming the office opens in autumn, its staff will need to hit the ground running ahead of next year's changeover at the commission and the European parliament. The new commission will take over in November 2004. Some commissioners will leave or take on new responsibilities and they will be joined by a fresh batch of officials from the accession countries of Central and Eastern Europe that will officially join the EU on May 1. There will also be elections to the European parliament next summer, which will inevitably bring new political challenges.