Vol 5 Chapter 107: I am pitting us

The dazzling sunlight penetrated through the glass and shone on Robin Leigh Pemberton’s face, but although the sunlight was warm, he could not feel any warmth. It was as if the energy of the whole body had been taken away. Unexpected fatigue.
The empire was once proud of the top of the world. The banner of the empire was planted in every corner of the world. The colonies it owned even occupied one third of the earth. The Bank of England was also known as the world’s most powerful central bank. The central bank has a new monetary policy, and the world's financial markets will tremble because of this.
The empire was so powerful at that time, but now, the central bank has used tens of billions of pounds of foreign exchange to maintain the value of the currency under a 5% rate hike, but it has achieved such a result.
Why, we didn't notice any turbulence before this?
The unemployment rate in August increased by 6.8% year-on-year...
House prices in London fell by 6% in August...
London, Treasury Building.
Norman Lamont looked at the statistical report handed over by his subordinates and the analysis of the advisors, his slightly rich faces wrinkled together, like bitter gourds that had been beaten by frost.
Britain’s current economy can no longer bear greater pressure, but the pound can no longer bear great pressure.
To maintain the current economy, it is necessary to implement a loose monetary policy. For the current UK, it is simply a chronic suicide. The exchange rate is related to whether the United Kingdom can stay in the European Community and the economic and trade exchanges between the United Kingdom and neighboring countries. If the British pound is forced to withdraw from the ECU, high tariffs will make British exports lose competitiveness throughout Europe. At that time, Great Britain I can only watch other second-rate countries cannibalize the market in Great Britain.
This is a century of national destiny. When that happens, he, the smartest finance minister, will probably be on the cross of shame forever.
However, to keep the exchange rate, a tightening monetary policy is required, but this will also cause a serious blow to the domestic economy. At that time, he will be thrown out by the politicians.
After thinking for a long time, Norman Lamont didn't come up with a complete solution.
He suddenly discovered that it was the most stupid thing to compete with Christopher Francis Berten for the position of Chancellor of the Exchequer. If he deliberately declined then, then the person facing this thorny issue today would be Christopher Francis Berten. He might go to Hong Kong and make a good profit.
The more I think about it, the more depressed Norman Lamont is.
In early 1990, Christopher Francis Berten and two other cabinet officials accused Margaret Thatcher of reforming monetary policy and urged her to resign. After the November general election, under his plan, the Conservative Party led by his friend SirJohn Major unexpectedly won the election.
The two have a very good relationship. SirJohnMajor and Christopher Francis Berten agreed that he will be hired as Chancellor of the Exchequer if he can keep his position in the House of Commons after he takes office.
As a result, Christopher Francis Berten failed in the House of Commons seat in the Bath constituency and was forced to withdraw from the seat. SirJohn Major was sent to Hong Kong as the Governor of Hong Kong, and Norman Lamont became the Minister of Finance.
At that time, Norman Lamont was excited about it for a long time.
The chancellor...the money! The business and banking sectors have to rely on their breath, and in the future, they will definitely make a lot of money.
But in the past few years, he has discovered that it is more profitable to go to the colony to become the boss of the colony.
That guy Hodder, a Chief Secretary in a mere district can only be regarded as the Governor’s No. 2 attendant. They all earn a lot of money in Hong Kong. The equity held by the Li Cheng family is enough for the to enjoy his old age. The huge monthly cash dividends of the major clubs in Shanghai are just like God.
He, the Minister of Finance, seems to have a lot of scenery, but until now, the benefits of fishing are not even comparable to Huo De, not to mention the Bai Teng who is the emperor of the earth in Hong Kong. He must be full of money, and he will resign and return to China. , And can be knighted by the Queen.
That fellow Major must be scolding me, and that Bai Teng must be waiting to see my jokes.
Thinking of the past, Norman Lamont suddenly wanted to get drunk.
He deeply suspected that Christopher Francis Berten had deliberately failed and waited for him to be the chancellor to dig a hole for him.
I hope that Bai Teng can bleed once this time.
Bell Bell Bell
The phone on the desk rang suddenly, and the phone ringing made Norman Lamont feel very bad, he really had enough of the phone calls.
"Norman. It's me, I'm sorry, we failed. Now we have only 200 million funds left, but the price of pounds is still below 2.75."
"..."
The voice coming from the earpiece made Norman Lamont pale.
Although he considered long ago that Britain might be forced to withdraw from the European exchange rate mechanism, and made corresponding hedging measures, when this happened, he realized that this was the last thing he wanted to see. result.
If Britain withdraws from the European Community, his political life may be completely ruined soon.
Lamont could feel that his hands and feet were a bit cold, colder than under a winter blizzard. In any case, this country is the country where he was born and raised. No matter how you look at it, this is the worst result.
But what can happen now, the most important thing is how to deal with the current situation.
In order to preserve the exchange rate of the pound sterling, the central bank has raised interest rates twice in a row and invested tens of billions of pounds to protect the pound. If we give up now, will all our efforts be in vain?
You can’t have both fish and bear paws. Since you chose to keep the pound at the beginning, now, the best choice is to continue to keep the exchange rate.
Lamont smoked a cigarette and sat in a chair for a while, feeling that his body had recovered a bit of temperature. He picked up the phone and called his boss. If he wanted to keep the current pound, he had to raise the interest rate again, and he needed a loan. Large amounts of money, both of which require the permission of the prime minister and the first minister of finance John Major.
Westminster District, 10DowningStreet.
These buildings with a history of more than two hundred years have become the prime minister’s residence since the position of the first minister of finance and the prime minister were the same person. The simple design of the black wooden door, decorated with the white Arabic numeral "10", has become a well-known symbol.
Here, in addition to the prime minister's residence and office, the prime minister's secretaries, assistants and advisers all work in the prime minister's residence.
The Prime Minister makes policies with cabinet officials and think tanks at No. 10 Downing Street every day. The general confidential departments, the Congress, the Ministry of Finance and the Ministry of Foreign Affairs are only a few minutes away from No. 10 Downing Street, so the Prime Minister can easily obtain information. And contact.
Buckingham Palace, where the monarch lives, is nearby, so that the prime minister regularly visits Buckingham Palace to report political affairs to the monarch. There are different meeting rooms and banquet halls in the prime minister's residence, where the prime minister will often meet with leaders from all walks of life and countries.
Therefore, Downing Street 10 is the center of the British government and one of the power cores of British politics.
Interestingly, when it was the residence of the First Chancellor of the Exchequer more than a hundred years ago, many of the Chancellor of the Exchequer who took office rejected the fact that it was too small and built on a swamp, reluctant to live here, and even wanted to razed it to the ground.
As the prime minister of a country, John Major’s work is naturally very busy, not to mention this moment of crisis where the stock, bond, and foreign exchange markets are facing triple kills.
When Norman Lamont called, Sister Mei was discussing with consultants, cabinet officials and think tanks how to solve all the problems at hand~EbookFREE.me~Your Excellency Major. Sorry, our market intervention failed. "
This is not shocking news. Major knew the result before Lamont called.
"Then what do you think we should do now."
"I think we may need to borrow more money to maintain the pound price."
"..."
With the hands-free on, Major asked for advice from his staff and cabinet members
"What do you think?"
None of the guys present were human spirits, looked at each other, and reached an agreement in an instant.
"I think His Excellency Lamont's suggestion is correct, but the problem is that there are not many people who can help us and are willing to lend us money."
"For the Asian market, only Japan can help us. We can ask the Ministry of Finance to help us."
"I object. Judging from the intelligence of the Financial Investigation Bureau, Shen Jiannan should be his own person. His real name should be Qiushan Jiannan. I think his attack on the pound sterling was probably instructed by the Province of Tibet."
"I agree with Bobby's judgment. Why are there so many pounds selling in the Asian market? This is not logical at all. Think about it, who else can sell so many pounds out of Japan?"
"Kevin is right. In the entire Asian market, the only person who can come up with so many pounds is Japan. We can't ask them to borrow money. That way, we will only be humiliated."
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"Nor for the French. Those want to look at us unlucky. If we go to them to borrow money, we will be insulting ourselves."
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