This is not only bad economics; it is a morally rotten way to behave, especially for this country with its traditions and values. As long as we persist in behaving in this manner, we cannot hope as Europeans to gain the influence we set out and would like to have in the rest of the world. The developing world sees the two great powerhouses of wealth, the United States and Europe, lined up against it. Both undermine it by distorting food prices and subsidising food producers. Of the two, Europe is by far the worst sinner. It is something about which we should think long and hard, especially in the current climate regarding Iraq in which America is not the favoured nation.