Synopsis
The Chancellor of the Exchequer's decision to take Britain into the Exchange Rate Mechanism provoked short-lived euphoria. Now the British economy has to conquer inflation and compete in Europe with a fixed rate for the pound.
The Chancellor of the Exchequer's decision to take Britain into the Exchange Rate Mechanism provoked short-lived euphoria. Now the British economy has to conquer inflation and compete in Europe with a fixed rate for the pound.