My inspiration for this design was the 1903-1965 coat of arms, before the annexation of Woolwich borough (for this specific purpose, I don't think that references to Woolwich are needed). The first attempt was a simplified version of the banner of arms (i.e. with less stars):
The central stripe is tinier in reference to Prime Meridian, also referred by the hourglass. The stars represent the Royal Observatory.
For my second attempt, I removed one more star, to make the flag look more balanced:
I like the result. But I'm not sure if it's better than with reversed colors:
I have a feeling that this version looks more "natural", but less unique.
Comments and suggestions are welcome.
Which of the three is your favorite proposal for Greenwich flag?