Vol 5 Chapter 108: Pinnacle showdown

"What's more, the francs on the market are now sold out, and the French dare not lend us money."
"Italy is so poor that it can't be opened..."
"Spain....."
"..."
After discussing for a long time, the think tank of the Prime Minister’s Office and the cabinet ministers did not discuss one, two or three. Italy and Spain are now completely dry, and they still don’t know whom they want to borrow money from.
She is shorting the British pound, and going to them to borrow money is tantamount to finding a slap in the face; the Anglo-French relationship is there, and now going to the French to borrow money, the result will only be humiliated by others and absolutely impossible to borrow money.
As for Germany, the strongest in Europe, Schlesinger's attitude has long made it clear that he wants to kick them out and borrow money instead of insulting himself.
Is the British Empire shameless?
This result silenced Norman Lamont.
Although no one accuses him of the knock-on effect of instructing to short the lira, now these guys just don’t want to take responsibility at all. The IMF’s money is there, and this kind of selective blindness will not be at all. other reasons.
"We can borrow money from the IMF."
"Oh. I didn't expect it."
"God. Norman, you are so smart."
"I agree with Mr. Lamont's proposal. At this time, borrowing money from the IMF is the wisest choice."
"..."
There has never been a moment when Lamont discovered that the word smart was a curse.
In the end, Sister Mei couldn't stand it anymore. As the prime minister, she must take up the responsibility of the prime minister at this time.
"Norman. I believe the IMF will agree to our request. Then you can handle this matter. Are there other things."
"..."
Norman Lamont could not help being silent again, but still had to mention the interest rate hike.
"Just borrowing money to buy the pound may not guarantee the safety of the pound. We need to continue to raise interest rates to retain capital."
Continue to raise interest rates?
Sister Mei’s brows are frowned together. He is responsible for incorporating the United Kingdom into the EC exchange rate mechanism. If he continues to raise interest rates, it will mean that his policy is considered a failure, and his credibility will collapse. The opposition party has been looking for Opportunity, several other are also waiting for him to make a mistake, and absolutely cannot continue to raise interest rates.
"Oh. Norman, hold on. Now is not the time to raise interest rates. New economic data will come out later. I believe that the market will eventually calm down."
When Lamont called Sister May, British officials were trying their best to show confidence.
Eddie George, the vice president of the Bank of England, stood in front of many media reporters in the news interview reception. He was very confident. He wore a plaid shirt and a striped tie, dressed like a London banker, with blond hair. Jin Hui is reflected in the sun, and the state looks very good.
"Mr. George, in accordance with the provisions of the exchange rate mechanism, if the pound wants to stay in the ECU, it needs to stabilize the price under the exchange rate mechanism, but now the price of the pound has fallen below this range, does the central bank have more plans to do so? Keep Britain in the European Community."
"Specifically, I can't tell you, but I think you can understand. But I can tell you that everything is under our control. The Bank of England has a history of hundreds of years, and Mr. Norman Lamont is also the most powerful chancellor. No one knows finance and economics better than him."
Faced with the reporter's question, Eddie George said happily, as if the Bank of England had placed a matrix, waiting to give a fatal blow to the bears in the market.
However, where prostitutes have fuel-efficient lamps and fuel-efficient, they won’t be reporters. When Eddie George finished speaking, a female reporter plucked up the courage and directly asked a very serious question.
"Mr. George. Don't you worry that the Bank of England has gone too far in this matter and is behind the times?"
Be behind the times.
This is the most annoying word for an Englishman, because it makes people think of the weakening of the sunless empire, and Eddie George's face becomes a little hard to look.
"Although it is unlikely, but in extreme cases, it is certain that the central bank will raise interest rates by one percentage point to drive away speculators. We will show them what the iron fist of Great Britain is."
Bell Bell Bell
The unexpected phone ring rang from his pocket, and Eddie George took out the phone and pressed the call button.
"George. It's me, listen. We raised interest rates by 500 basis points in these two hours, but the market did not climb as we expected. Obviously, our intervention failed. You have to do the worst. Preparation."
It was like a thunder in the consciousness. Eddie George was shocked. The central bank raised the interest rate by 500 basis points, but the intervention failed. This means that the pound will inevitably withdraw from the European exchange rate mechanism. Powerless.
But this news must not be disclosed. Once it is disclosed, all the people will take the money to the central bank to exchange it into foreign exchange, which will be a disaster. When he turned around, the discoloration on Eddie George's face had been hidden, with only a slight abnormal white color, which was frightened before proving him.
"I just received a message that we are actively responding to the current situation in the market, and I can tell you for sure that the pound will never depreciate."
"Mr. George, can..."
"Sorry. I need to go back to the office to deal with something."
"..."
I hurriedly got in the car and returned to the bank. Under the auspices of Robin Leigh Pemberton, a brief meeting was quickly convened~EbookFREE.me~Now the situation is understood, I don’t know if you have anything else good. idea. "
"I think. The first step is to stabilize the panic in the market."
"But it needs money, a lot of money."
"No. Confidence is more important than gold. We can contact some banks and institutions and giants to show our attitude and show their trust and support for the pound."
"But those greedy guys can't buy pounds at this time."
"This is not a problem. The problem is that they can stand up and dispel the sentiment of the people to sell the pound."
"......"
Following the end of the Bank of England meeting, the famous industrial giant issued a statement saying that the British pound does not have much depreciation expectations. As a British, it is the responsibility to protect the country’s sovereign reputation. McCullough Industries will buy a Billions of pounds to support the exchange rate.
At midday, the president of National Westminster Abbey also expressed support for the pound.
He said that currency is the sovereign reputation of a country. In the face of malicious attacks by international capital, as a citizen of Great Britain, he should support the pound price. Westminster Bank will buy 200 million pounds to support the pound price. He personally also One million dollars will be bought to support the British pound.
One, two, three
University of London professors, famous economists, famous entrepreneurs, and bankers, passionately denounced that international capital's attack on the pound was a malicious war. As a British, in this despicable war, we must take up arms. Defend the dignity of the pound.
One said that, maybe it's nothing.
But when many celebrities and celebrities made similar remarks and said they would buy the pound sterling to support the exchange rate, the entire UK was caught in a war of public opinion.