Why Britain Is Now labeled "AN INTERNATIONAL PAUPER" - Raymond F McNair - January 1968

Raymond F McNair

November 1967 will go down in history as a very black month for Britain! First, De Gaulle blackballed Britain's second bid to enter the Common Market! Then, with equal suddenness, the pound sterling was devalued. Britons, now unsure of their future, ask: How will it all end? London. England. Britain has just met its greatest tragedy since Dunkirk. Her economy nearly collapsed. The nation stood less than two days from international bankruptcy. The painful 14.3% devaluation of Britain's pound sterling was followed by yet another massive standby loan ($1.4 billion) from the International Monetary Fund. Devaluation and De Gaulle's chilly veto of British application to enter the EEC have left this proud people frustrated, disillusioned, resentful, shocked. - Information Supplied By: Herbert W Armstrong Library