Britian going to the IMF(BROWN Spin/Mega de-brief)

[Mega]

Anyone watching Mandelson on Channel 4 news will know what I am talking about.

"We won't be at the top of the queue"

Snow pushes him - "You didn't say we won't be in the queue"

"I don't think we will be in the queue"

Honestly he didn't want to say that last bit. He was more or less forced to. Very sheepish and quiet whan he said it.

All this after Mandelson spent a good minute talking about how the stigma of going to the IMF was being reduced and it wouldn't be embarressing to go to them now. He even used examples of other countries, Mexico, that were considering using the special drawdown facility. We are being primed. Pure and simple. Just as we were for low interest rates and QE


Mike

[hayekvindicated]

Re: Britian going to the IMF(BROWN Spin/Mega de-brief)

Sterling has had a rally lately - makes about as much sense as Icelandic Krona rallying in August 08.

Britain's situation is not your classic IMF rescue situation - which usually involves a relatively small economy of a third world country and where a few billion go a long way (Pakistan, Ukraine etc).

Britain's banks have balance sheets that run into the Trillions. A few billion won't do the job.

[rabot10]

Re: Britian going to the IMF(BROWN Spin/Mega de-brief)

"queue"

sorry mike what does that mean?

rick

[Mega]

Re: Britian going to the IMF(BROWN Spin/Mega de-brief)

Standing in line.
Mike

[*T*]

Re: Britian going to the IMF(BROWN Spin/Mega de-brief)

He even used examples of other countries, Mexico, that were considering using the special drawdown facility.

hahaha Mexico! :p:rolleyes::eek::mad:
We're in great company so it's OK!