The FT’s Tim Harford takes on the cost of EU citizenship.

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/df091918-632f-11e3-886f-00144feabdc0.html#ixzz2npBj0KQd

I hardly think that €650,000 cheapens the EU passport. For the typical British citizen, the message Malta is sending is that the passport in your pocket is worth more than your house and your pension pot put together. Which may not be far wrong: take a typical UK citizen, dump her in Calcutta or Dar es Salaam and see how she gets on. EU citizenship is more valuable than most EU citizens realise.