Keyed Up for Europe

second application to join the Common Market, the Chancellor of the Exchequer has decided to take no chances with the stability of Sterling and shows no signs of injecting a mild, inflationary dose into the economy. With Britain's debts to foreign bankers repaid and the flow of "hot money" into the country's reserves showing no signs of slackening, an early cut in Bank Rate after the Budget had been foreseen. This was all the more expected in view of the fall in German interest rates which, together with the continued fall in world rates, had indicated that a further drop of