 This is not a sterling crisis. It's not a debt crisis. Britain is not Greece. It's not Argentina. You issue the currency in which you borrow, and that means that you are never going to have the problems that Greece had or Argentina did. But this is an interest rate crisis, because at the moment, we have inflation running at around 9, 10% in the United Kingdom. We have a current account deficit of 8%. And now we have this remarkable largesse lavished by least trust on the wealthy. The Bank of England knows that with these numbers, to stabilize the market for public debt for guilds on the one hand, and the value of the pound, it should push interest rates to 6%. This is my estimation of what would now stabilize the money markets in Britain. But that would break like a toy the housing market. It would cause untold hardship upon the middle classes that have indebted themselves hugely over the last 10 years. The British economy has been addicted to low interest rates. And now, given the fiscal largesse of this government, which is a rookie mistake, I have to make this point, I think. Nevertheless, the Bank of England now is forced. It has to push interest rates up very quickly. What they did today was to buy some time by reversing quantitative tightening and doing more QE. But now you have a situation where the Bank of England is going to raise interest rates until the housing market does break. Historically, you've been no fan of the IMF, but from the sounds of it, you're suggesting that actually what they're doing here is right. Do you agree with them that the UK government should reconsider the measures they've taken? Oh, absolutely. I'm very much fear, however, that this Chancellor is going to make a bad thing worse. That he's unwilling to reverse course. And what he will do is precisely the wrong thing. He's going to cut welfare payments and public investment, making it much harder for Britain to recover.