The Met needs a fresh start

Yet the questions over the shooting of Jean Charles de Menezes during that time were undermining his leadership. That lack of confidence in him, among the public and most of all among the Metropolitan Police itself, could not continue. It seems that the Mayor, now chairman of the Metropolitan Police Authority, was unhappy with Sir Ian's leadership and asked him to consider his options.

For Sir Ian also faced other challenges. The latest evidence that Sir Ian used public money to pay a friend to provide advice on his public image - now the subject of an investigation by HM Chief Inspector of Constabulary Sir Ronnie Flanagan - follows other claims of conflicts of interest against which Sir Ian has always defended himself.

The case of Assistant Commissioner Tarique Ghaffur also served to undermine confidence in the man at the top. For Sir Ian, who had always presented himself as a champion of racial equality, to be facing discrimination claims which effectively led to a dramatic suspension of Britain's most senior Asian policeman from duty suggested that the Commissioner was losing control of events.

London has much for which to thank Sir Ian. But the Met now needs a fresh start under a leader who is not dogged by the questions of judgement and integrity that have surrounded Sir Ian for much of his three-and-a-half-year tenure in the job. Now is also the time to reassess the political relationship between the Mayor and the police.

Euro bail-out?

The Prime Minister is heading for the Elysée Palace this weekend for an emergency summit on the banking crisis, called by French president Nicolas Sarkozy. But as markets remain on edge, waiting to see whether the US house of representatives follows the US Senate in passing the bail-out plan for US banks, there can be little hope for anything comparable at a pan-European level.

Individual EU member state governments have had to nationalise or bail out Fortis, Dexia and Hypo real estate. But while this prompted a French call for a ¤300 billion EU rescue fund, the proposal was immediately squashed by the British and German governments. Meanwhile, Ireland's blanket guarantee for all deposits in its top lenders has raised fears that EU rules on state aid have been broken: it trumps the protection available in other countries, including the promise made this week by Gordon Brown to raise deposit insurance to £50,000.

There are likely to be rows to come among member states over changes to bank regulation. These are desperately needed but could involve challenges to the Commission's claims of competence in the areas of financial services and competition.

Meanwhile all the signs are that the financial crisis is now spreading to the real economy. As the London property market shows falls of more than nine per cent on last year, many hard-pressed borrowers will be hoping for a cut in interest rates from the Bank of England. The European Union has little to offer that could have such an immediate effect on confidence.

Charity boost

In the credit crunch London's charities have lost contributions from corporate donors so this paper is making it easy to give money to some of London's most deserving causes with our Eros charity card. Once you are registered, half the cover price of any copy of the Standard you buy with the card will be donated to your chosen charity. The small sum of 25p, multiplied over the year and boosted by the Gift Aid scheme, will make a big difference to the charities at a difficult time.