Decline to Fall: The Making of British Macro-economic Policy and the 1976 IMF Crisis

Hardcover | March 13, 2008

byDouglas Wass

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This book provides the first comprehensive and authoritative account of the events leading up to the UK seeking a massive loan from the IMF in 1976 which almost precipitated a financial crisis on a par with those of the 1930's and early post war period. Sir Douglas Wass, who was permanentSecretary to the Treasury at the time, provides a unique first hand account of the events that took place as the crisis unfolded and the decision-making process. Bringing unrivalled experience and knowledge of Whitehall to the narrative, he draws on recently released documents such as officialTreasury minutes, memoranda, official statements and reports, IMF documents and blends them with his own assessment of this key period of policy making to provide a fascinating, blow-by-blow account of how the Treasury reacted when faced with a series of inter-locking crises. Decline to Fall will bea must read for anyone interested in the formulation of policy and the workings of government.

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This book provides the first comprehensive and authoritative account of the events leading up to the UK seeking a massive loan from the IMF in 1976 which almost precipitated a financial crisis on a par with those of the 1930's and early post war period. Sir Douglas Wass, who was permanentSecretary to the Treasury at the time, provides ...

Sir Douglas Wass spent the main working part of his life as a senior civil servant in the Treasury, which he joined in 1946 after War service. His experience ranged over all aspects of the Treasury and he represented the UK in both the International Monetary Fund and the World Bank. He was the Private Secretary to two Chancellors an...

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Format:HardcoverDimensions:448 pages, 9.21 × 6.14 × 1.1 inPublished:March 13, 2008Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199534748

ISBN - 13:9780199534746

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Table of Contents

GlossaryPreface1. Setting the Scene "The Railway Timetables"2. Marking Time3. Policy Changes4. The Markets Take Over5. The Crisis Resolved6. Some Conclusions

Editorial Reviews

`This is the definitive and detailed account of one of the worst financial and political events to affect the United Kingdom in the past fifty years, the great IMF crisis of 1976. Any historian of the period will find this book indispensable.'Shirley Williams, The Baroness Williams of Crosby and Professor Emerita, Harvard University