those at the meeting feel as if they have become a de facto warBritain will have to leave the ERM. And sterling will have to be devalued.
floating the pound did not amount to a devaluation. Majors Conservative



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mind. He wanted it now more than ever.186 Black Wednesdayto build up the full position. So a billion is about right as an estimatebillion pounds. Put it a different way: It will have cost us more to