The early results were sturdy oak, pine and walnut pieces that were frequently smaller in scale, more vertical in line than their European peers.

The British economy tends to behave more independently of regional trends than any of its European peers.

British exporters are to be placed at a competitive disadvantage to their European peers when rules designed to improve air cargo safety take effect next month.

It is not clear, though, that Germany is markedly different from its European peers, experts say.

Still, it is not clear whether Spanish companies still need the help of their European peers or are really able to outperform them.

Unlike most of its European peers, Volkswagen is already big enough to compete in today's environment.

Even the most august of American designers, however, have been known to be swayed by their European peers.

And while American youth are less likely to smoke or drink than their European peers, they are more likely to use illicit drugs.

She said, today: 'I am delighted to have an opportunity to meet my European peers and to participate in the debates and the entire programme.'

Neither does Mr Hester's pay look particularly out of line with his European peers.