Calling time on the supranationals

Countries are lining up to assert their sovereignty, says Merryn Somerset Webb. That's bad news for supranational organisations.

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Trump: pushing back against the supranationals
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"The days are for great empires and not for little states." So said Joseph Chamberlain, Britain's then-colonial secretary in 1902. He reckoned the world's populations would be much better off being managed by rational, orderly, perhaps even rules-based supranational organisations. He might have been right but the little states in question didn't agree with him for long enough to find out. This is a story that has played out several times in the past and is doing so again now. Here's an unnamed EU official, quoted in the FT this week: "There is no such thing as a sovereign country any more. It is an illusion the Brits are all chasing, but it has gone."

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.