IMF Crisis of 1976 and British Politics
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The 1976 IMF crisis was a seminal event in modern British political and economic history. The seeds of the crisis were sown by the huge OPEC oil price shocks of 1972-3 leading to the potential meltdown of Britain''s already weakened economy and seemingly confirming Britain''s headlong decline as a major political and economic power. The government was seen as going ''cap in hand'' to the Internati...
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The 1976 IMF crisis was a seminal event in modern British political and economic history. The seeds of the crisis were sown by the huge OPEC oil price shocks of 1972-3 leading to the potential meltdown of Britain''s already weakened economy and seemingly confirming Britain''s headlong decline as a major political and economic power. The government was seen as going ''cap in hand'' to the Internati...
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