Chapter 108: Peak Duel
"What's more, now that all the francs in the market have been sold, the French do not dare to lend us money. ”
"Italy is already poor and can't open the pot......"
"Spanish ....."
“......”
After a long day of discussion, the think tank and cabinet members of the Prime Minister's Office did not come up with a one, two, three, Italy and Spain are now empty, and they don't know who they want to borrow money from.
He said that he was shorting the pound sterling, and that going to them to borrow money was tantamount to finding a slap in the face; the Anglo-French relations were there, and now if I went to borrow money from the French, the result would only be humiliated by others and I would never be able to borrow money.
As for Germany, the strongest country in Europe, Schlesinger's attitude has long made it clear that he wants to kick them out and borrow money, not to bring humiliation on himself.
Is the British Empire shameless?
This result silenced Norman Lamont.
While no one blames him for the knock-on effects of directing the shorting of the lira, the fact that these guys simply don't want to take responsibility for it, and where the IMF money is, this selective blindness is simply not something else.
"We can borrow money from the IMF. ”
"Oh. How I didn't think of that. ”
"Oh my God. Norman, you're so smart. ”
"I agree with Mr. Lamont's suggestion that borrowing money from IMF is the wisest option at this time. ”
“......”
There was never a moment when Lamont discovered that the word smart was swearing.
In the end, Sister Mei couldn't stand it anymore, as the prime minister, she must take the responsibility that the prime minister should have at this time.
"Norman. I believe that the IMF will agree to our request, so you can deal with this matter, and there are other things. ”
“......”
Norman Lamont couldn't help but be silent again, but he still had to mention the interest rate hike.
"Just borrowing money to buy the pound may not guarantee the safety of the pound, and we need to continue to raise interest rates to keep the capital behind. ”
Continued interest rate hikes?
Sister May's brows furrowed together, he was responsible for including the UK in the EC exchange rate mechanism, if he continued to raise interest rates would mean that his policy would be considered a failure, then his credibility would collapse, the opposition party has been looking for opportunities, and several other bastards are also waiting for him to make mistakes, and he must not continue to raise interest rates.
"Oh. Norman, hold on a little longer, it's not time to raise interest rates yet, new economic data will come out later, and I believe that the market will eventually calm down. ”
When Lamont called May, British officials were trying to show confidence.
Eddie George, the deputy managing director of the Bank of England, stood in front of many media reporters in the press reception department, showing special confidence, wearing a plaid shirt and a striped tie, dressed like a London banker, with blond hair reflecting the golden glow in the sun, and looking very good.
"Mr. George, according to the rules of the exchange rate mechanism, if the pound wants to stay in the ECU, it needs to stabilize the price at the lower band of the exchange rate mechanism, but now that the price of the pound has fallen below this range, does the central bank have more plans to keep the UK in the EC. ”
"I can't tell you the specifics, but I think you can understand. But I can tell you that we are in control, the Bank of England has a centuries-old history, and Mr. Norman Lamont is the best Chancellor of the Exchequer, and no one knows more about finance and economics than him. ”
Faced with a reporter's question, Eddie George said happily, as if the Bank of England had laid out a matrix, waiting to deal a fatal blow to the bears in the market.
However, where the prostitute has a fuel-efficient lamp and fuel-efficient, he will not be a reporter, and when Eddie George finished speaking, a female reporter mustered up the courage and asked a very serious question directly.
"Mr. George. Aren't you worried that the Bank of England has gone too far in this matter and is behind the times?"
Behind the times.
It's one of the most hated words in the British, because it reminds me of the waning empire on which the sun never sets, and Eddie George's face becomes a little ugly.
"While unlikely, in an extreme scenario, 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 –
Caught off guard, the phone rang from his pocket, and Eddie George took out the phone and pressed the call button.
"George. It's me, listen, we raised rates by five hundred basis points in two hours, but the market didn't climb as much as we expected, and obviously, our intervention failed. You have to prepare for the worst. ”
Like a thunderclap through his consciousness, Eddie George was horrified, the central bank raised the interest rate by 500 basis points, but failed to intervene, which means that the pound will inevitably withdraw from the European exchange rate mechanism, and there is no way back.
But this news must not be disclosed, once it is revealed, all the people will take the money to the central bank to exchange for foreign exchange, it will be a disaster. When he turned around, the color change on Eddie George's face had been hidden, and there was only a slight abnormal white, which was frightened before proving him.
"I just received a message that we are actively responding to the current state of the market, and I can tell you for sure that the pound will definitely not depreciate. ”
"Mr. George, can ......"
"I'm sorry. I need to get back to the office now and take care of a little bit of something. ”
“......”
Hurriedly getting in the car and back to the bank, a brief meeting was quickly convened under the chairmanship of Robin Leigh Pemberton.
"Now that you've got an idea of what it's like, I don't know if you have any other good ideas. ”
"I think. For now, the first thing to do is to calm the panic in the market. ”
"But it takes money, it takes a lot of money. ”
"Nope. Confidence is something more important than gold. We can reach out to a number of banks and institutions, as well as giants, to show their trust and support for the pound. ”
"But those greedy guys can't buy pounds at this time. ”
"It's not a problem, the problem is that they stand up and can discourage the people from selling the pound. ”
“.......”
With the end of the Bank of England meeting, the famous industrial giant said that the pound fundamentally does not have much depreciation expectation, and as a British, it is the responsibility to protect the country's sovereign credibility, and McCullough Industries will buy 100 million pounds to support the exchange rate.
At noon, the president of NatWestminster also made a pro-pound statement.
He said that currency is a country's sovereign credibility, in the face of the malicious attack of international capital, as a citizen of Great Britain, should support the price of the pound, Westminster Bank will buy 200 million pounds to support the price of the pound, and he will personally buy 1 million dollars to support the pound.
One, two, three......
A professor at the University of London, a famous economist, a famous entrepreneur, and a banker, passionately denounced that the sniping of international capital on the pound is a malicious war, and as a British, in this despicable war, we must take up arms to defend the dignity of the pound.
One says so, maybe nothing.
But when many celebrities and celebrities made similar statements and said that they would buy the pound to support the pair, the whole of Britain was caught in a war of public opinion.