Over in Brussels, the EU constitutional convention continues to wend its dreary way under the rather self-important tutelage of former French president Giscard d’Estaing. Giscard’s latest plan? Scrapping the veto currently enjoyed by individual EU member states over tax policy. His intention is, apparently, to stop some EU members “poaching” (that’s the FT’s word) investment and savings by setting lower tax rates. Naturally, Giscard’s stance is supported by France and Germany. No word yet on whether diamonds would be exempted.