A cup of tea with Xavier Rolet is the jolliest of affairs.

Rare among corporate bosses, the Frenchman who runs the London Stock Exchange always has something new to say about everything - why a Scoxit would have made a Brexit from the EU almost inevitable, that Marine Le Pen could become the next President of France by default because French political life is so rotten, and why doubling teachers' pay is the only way to cure the "education deficit" in this country. Oh, and interest rates are not about to go up.