Politics and the Pound: The Conservatives' Struggle with SterlingThis is a witty and authoritative account of this explosive mix between politics and economics and gives a rare insight into how economic policy is made in modern Britain and into the continuing political struggle over Britain's place in Europe. |
Contents
ONE CONVICTION I | 1 |
TWO NAVIGATING WITHOUT A COMPASS | 27 |
THREE A DEVALUED CURRENCY | 53 |
Copyright | |
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Common terms and phrases
anti-inflation autumn back benches Bank of England Bank's Black Wednesday borrowing costs Britain British Brussels Budget Bundesbank cabinet cent central bank chancellor Clarke colleagues commitment Conservative Party debate decision defeat Delors Deutschmark devaluation dollar domestic Douglas Hurd Downing Street earlier early economic and monetary economic policy Eddie George election ERM membership Europe exchange rate fall finance ministers financial markets foreign exchange markets Foreign Office France Geoffrey government's House of Commons industry inflation rate interest rates intervention John Major join the ERM Labour later Maastricht Margaret Thatcher meeting ment Michael Heseltine monetarist monetary policy monetary union money supply months Nigel Lawson Norman Lamont option political pound pressure prime minister prime minister's realignment recession referendum remark resignation rise Robin Leigh-Pemberton sceptics Schlesinger single currency speculators speech stability sterling M3 sterling's summit target Terence Burns told Tory Treasury and Civil Treasury officials Treasury's treaty Whitehall