Hello Simone
You said -You might as well walk amongst the traffic as cycle amongst it for all the protection you have on a bike and you wouldn't do that would you?
A few years ago we went on holiday to Rome, the traffic looked chaotic but the Holiday Rep said " If you want to cross the road, just do it, the traffic will move round you if necessary" We did, and it did. Last year we went to Norway where we felt virtually obliged to cross the road as we had glanced at what appeared to be a pedestrian crossing and the traffic then stopped.
The difference is that Italy and Norway like the majority of Europe, but significantly not the UK, adhere to the policy of Strict Liability with respect to road accidents. In their cases it is up to the motorist to prove the victim was at fault if he/she doesn't want to take responsibility in any collision. In the UK the principle of "Innocent until proved Guilty" is always quoted as paramount, although in reality 90% of the time the victim has no way of proving the motorist guilty. It is said that to bring in Strict Liability would result in a culture of cyclists deliberately running into motorists. We know motorists do this themselves - the deliberate stop to force someone behind them to run into them and then claim compensation - but apart from the fact that a bike running into a car may only scratch the paintwork and is far less likely to damage the driver but to achieve a major compensation claim similar to the motorist example above would mean really risking your own life. You wouldn't do that, would you?
Unfortunately the law needs changing, but those who might be able to do so are practically all motorists. Politicians and Lawers should have to declare an interest and leave it to the non-motoring few to decide, but that is unlikely.