It is rather interesting to note, again quoting America, that in the President's pet organ, the "United States Daily," the editor, Mr. David Lawrence, dealing at length with the British Crisis, makes this statement: "There is no doubt that British bankers themselves are in accord with the suggestions of foreign bankers, and it would not be surprising if the true British situation 1736 were exaggerated in order to bring about the fall of the Labour Ministry".

This is not essentially a British Crisis.

Walter Lippman, in a famous article on "Liquidating the British Crisis," suggested that the United States should directly discharge these war debts to countries such as India.

When that situation is appreciated, very little more need be said to account for the British Crisis of 1949.

] When hon. Members opposite jeer like that they should have read the American newspapers immediately afterwards and learned that a great deal of raw material reached us as a direct consequence of the alarm caused in America because of the British Crisis.

On the contrary, we had a Major British Crisis, with all the restrictive measures associated with the right hon. and learned Gentleman the Member for Wirral (Mr. Selwyn Lloyd).

that, indeed, this is not a British Crisis, but a world crisis, which is likely to continue for a considerable time.

Nevertheless, the other point of view is that we are in for a long period of great difficulty in the provision of energy; that, indeed, this is not a British Crisis, but a world crisis, which is likely to continue for a considerable time.

It would be a mistake to talk as if we were discussing a purely British Crisis, as the right hon. Member for Carshalton did.

On the other hand, we have the peculiar British Crisis grafted on to the world crisis.

Not surprisingly, this week' s edition of The Economist - which is not exactly an anti-Common Market journal - states:The price of backing non-reform now will be Another British Crisis next year.

He will understand that there is a Crisis in British 1167 farming.

It is a particularly British Crisis.

Will the Minister at least agree that Northern Rock and Bradford & Bingley were British institutions under a British regulator who made British mortgages available to British people and that theirs was entirely a British Crisis?

I want to talk about four particular aspects of the British Crisis: first, the executive dominance of Parliament; secondly, the central dominance of politics in Britain; thirdly, the whole new Labour project of government as delivery rather than dialogue and participation; and fourthly, the style of government we have.

I am always surprised at the extent to which people see it as a purely British Crisis.

This was not a British Crisis, but today, as a consequence of the British LIBOR scandal, we have lost out to New York, which has played its political hand far more astutely than the Government and has grabbed business from this country.

In fact, I have from time to time upbraided the Government's Front Bench for seeming to portray it as a British Crisis, quite unable to recognise that the whole of Europe and the advanced world, particularly the United States, are under the same strains.