18 APRIL 1992, Page 25

Dews on the Rialto

THE Corporation of London — which has learned to stand up for its ratepayers — is putting £1.5 million behind a campaign to bring Europe's central bank to the City. A subtler campaign would steer the bank away from the City's competitors. It could go to Basle, which has all the facilities, if the European Community does not mind invading Switzerland. My own choice would be Venice — historic, accessible, agreeable, and offering the extra chance that the new bank would sink into the lagoon and the further, reasonable, chance that no one would notice.