UK Interest rates must rise

What can stop sterlings continuing plunge which threatens the wealth of all the country's citizens? This blog has been arguing for austerity and interest rate rises - it is the only cure after all these years of profligacy (why wait for the IMF to insist, further delay risks even they will lack the funds to help). A Telegraph report on the pound's fall to 87.79 pence per Euro concludes: "If the pound falls too far, it could frustrate future interest rate cuts because it would push up the price of imports and stop inflation coming down," said Steve Barrow, a currency expert at Standard Bank. (The idiot Chancellor A****** Darling is presently proving his incompetence to a Commons Committee live on Bloomberg, he clearly has no clue of the disaster he has helped create).