Compare and contrast an EU with a WTO membersbip.
Is the WTO the "free trade area" that some, many in Britain, want the EU to be?
Let;s assume it is.
Then why should the EU copy the WTO? Those countries that want to belong to a mere free trade are a with the minimum transfer of sovereignty have the WTO.
The EU was intended, is and will be much more than a free trade area or even a common or even a single market (a status it has not really achieved yet though, Single Market, 19 years after "1992").
The WTO though is maybe just what The City needs.
What does Germany need? What does Germany want? Analysis of the former should come before analysis of the latter. Does not seem to be the case though.