What the events of 7/7 say about Britain’s capital

London's reaction - at www.moneyweek.com - the best of the international financial media

It is an honour London could have done without. There is no surer sign of a city's standing in the world than to be chosen as a target for a terrorist speculator. When the twin towers were attacked, they were chosen as a target because they were one of the most prominent landmarks in the world's leading city. Washington may be the leading global city for politics, but New York is the leading international city for almost everything else, including finance.

Within a week London's position in this global league was emphasised by the choice of London for the Olympic Games of 2012 and by the Al Qaeda inspired bombing of the London underground. It was a horrible act, which has left a trail of casualties and bereavement. Even that demonstrated how international London has become. The casualty list, like that of the twin towers, spoke of an international community, not of a purely Anglo-Saxon one.

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