By josh is here
The "honour" is to be conferred as part of the Queen's Diamond Jubilee celebrations in recognition of the many and historic links the royal family has with Greenwich. Henry VIII, Mary Tudor and Elizabeth I were all born at Greenwich, The Queens House was built for James I's wife and the Old Royal Naval College is an iconic riverside landmark established by Royal Charter in 1694. Greenwich is home to the world renowned Royal Observatory, the Prime Meridian and the National Maritime Museum. There's even a Royal Hill and note a lesser known fact: One of the Duke of Edinburgh's titles is Baron Greenwich
So what does it mean? Well, not a lot. Greenwich joins a select coterie of fellow Royal Boroughs (Kensington & Chelsea, Kingston and Windsor) and has the distinction of being the only Royal Borough amongst the hosts of the 2012 Olympics. A tad more pageantry might be visible on road signs and we expect the Council might splash out on a rebrand. Tourists may or may not experience an additional thrill. Apart from that, business as usual, folks. Expect more excitement for the extra bank holiday on 5 June in Jubilee year.