Chapter 108 Peak Showdown
"What's more, the francs on the market are now sold out, and the French dare not lend us money."
"Italy is already poor and can't bear to lose the blame..."
"Spain....."
“…”
After a long discussion, the Prime Minister's Office's think tank and the cabinet gentlemen did not discuss it. Italy and Spain are now in a clean and don't know who they want to borrow money from.
The Japanese are shorting the pound. Going to borrow money to them means being slapped in the face; if the relationship between Britain and France is placed there, and now I will borrow money to the French, the result will only be humiliated and absolutely no money to borrow.
As for Germany, the strongest in Europe, Schlesinger's attitude has long been clear that he wants to kick them out and borrow money, not to bring shame on himself.
Is the British Empire shameless?
This result silenced Norman Lamont.
Although no one accused him of the chain impact of instructing shorting the lira, these guys now don’t want to take responsibility for it after all. The money from the IMF is there, and this selective blindness is not the reason for this at all.
“We can borrow money from the IMF.”
"Oh. Why didn't I expect it?"
"God, Norman, you're so smart."
"I agree with Mr. Lamont's proposal that it is the wisest choice to borrow money from the IMF at this time."
“…”
Never a moment, Lamont discovered that the word cleverness is a swearing.
In the end, Sister Mei couldn't stand it anymore. As the prime minister, he had to take the corresponding responsibility at this time.
"Norman. I believe the IMF will agree to our request. Then you can handle this matter. Is there anything else?"
“…”
Norman Lamont couldn't help but remain silent again, but he still had to mention the interest rate hike.
"Just borrowing money to buy pounds may not guarantee the safety of pounds. We need to continue raising interest rates to keep the capital behind."
Continue to raise interest rates?
Sister Mei frowned. He was responsible for incorporating the UK into the European Community exchange rate mechanism. If the rate hike continues to be a failure, his reputation will collapse. The opposition party has been looking for opportunities, and several other bastards are also waiting for him to make mistakes. They must not continue to raise interest rates.
"Oh Norman, hold on, it's not the time to raise interest rates, and new economic data will come out later. I believe the market will eventually calm down."
While Lamont called Sister Mei, British officials were trying their best to show confidence.
Eddie George, vice president of the Bank of England, stood at the news interview reception department and looked at many media reporters. Tebby was confident. He was wearing a plaid shirt and a striped tie, dressed like a London banker, and his golden hair reflected his golden brilliance in the sun. He looked very good.
"Mr. George, according to the exchange rate mechanism, if the pound wants to stay in the ecu, it needs to stabilize the price on the lower track of the exchange rate mechanism. But now the price of the pound has fallen below this range. Will the central bank have more plans to keep the UK in the European Community?"
"I can't tell you specifically, but I think you can understand it. 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 of the Exchequer. No one knows finance and economy better than him."
Facing the reporter's question, Eddie George said happily, as if the Bank of England had laid a matrix waiting to give a fatal blow to the bears in the market.
However, prostitutes don’t have any fuel-efficient lamps and fuel-efficient ones, so they don’t become journalists. After Eddie George finished speaking, a female reporter mustered up the courage and asked a very serious question directly.
"Mr. George. Are you not worried that the Bank of England has gone too far in this matter and lagged behind the times?"
Lagging behind the times.
This is the most annoying word for the British, because it reminds people of the weakening of the empire of the Sun and the Unsettling, and Eddie George's face became a little ugly.
"While it is unlikely, in extreme cases, it is certain that the central bank will raise interest rates by a percentage point to drive away speculators. We will let them see what the iron fist of Great Britain is."
Ring--
The unexpected ringtone of the phone rang out 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 five hundred basic points in these two hours, but the market didn't climb as we expected. Obviously, our intervention failed. You have to be prepared for the worst."
It was like a thunder passing by in consciousness. Eddie George was shocked. The central bank's interest rate was raised by 500 basic points, but the intervention failed, which meant that the pound would inevitably withdraw from the European exchange rate mechanism and was unable to turn the situation back.
But this news must not be revealed. Once it is revealed, all the people will take the money to the central bank for foreign exchange, which will be a disaster. When they turn around, the color change on Eddie George's face has been hidden, with only a little abnormal white, which was scared before proving him.
"I just received a message that we are actively responding to the current market situation. We can definitely tell you that the pound will definitely not depreciate."
"Mr. George, can..."
"Sorry. I need to go back to the office and deal with something now."
“…”
Hurry up and returned to the bank, a brief meeting quickly began under the auspices of Robin Leigh Pemberton.
"You have already understood the situation now, and I don't know if you have any other good ideas."
"I think. At present, we must first stabilize the market's panic."
"But it takes money, it takes a lot of money."
"No. Confidence is something more important than gold. We can contact some banks and institutions and giants to show their attitudes and their trust and support for the pound."
"But those greedy guys cannot buy pounds at this time."
"This is not a problem, the problem is that they can stand up and dispel the public's sentiment of selling pounds."
“……”
With the end of the Bank of England meeting, the famous industrial giant made a statement that the pound does not fundamentally have too much expectation of depreciation. As a British man, he has the responsibility to protect the country's sovereignty and credibility, McCullow Industry will purchase 100 million US dollars to support the exchange rate.
At noon, the president of National Westminster also made remarks in support of the pound.
He said that currency is the sovereign reputation of a country. Faced with the malicious attack of international capital, as a citizen of Great Britain, he should support the price of pounds. Westminster Bank will buy 200 million US dollars to support the price of pounds, and he will personally buy 1 million US dollars to support the price of pounds.
One, two, three...
Professor at the University of London, famous economist, famous entrepreneur, banker, passionately condemns that international capital's sniping on the British pound is a malicious war. As the British, in this despicable war, we must take up weapons to defend the dignity of the British pound.
If one says so, maybe nothing is wrong.
However, when many celebrities and celebrities made similar remarks and said they would buy pounds to support the exchange rate, the whole of Britain fell into a war of public opinion.
Chapter completed!