If this is done, I believe that from a psychological point of view it will have a good effect on the whole international atmosphere, and this is vitally important, particularly for the United Kingdom, which, after all, has more to lose from any monetary Crisis in the International Sphere, which could shrink world trade, on which we depend for our whole standard of living.

Surely the big lesson of the Crisis in the International Sphere is that many aspects of the communities' approach to international trade and monetary problems are based on fantasies which bear no relation whatever to the real world.