The Sterling Question
Strange, Susan. “The Sterling Question.” In Britain and the Common Market, edited by Anthony Moncrieff, 43-50. London: BBC, 1967.
In this text of a radio talk first broadcast on 19th February 1967, Strange summarises the arguments she made in The Sterling Problem and the Six (1967). Discussing the links between Britain and the European Community, she examines the international position of sterling in a time of monetary crisis. Noting both the lack of reserves held by the British government and Britain’s extra-European financial commitments, Strange argues that de Gaulle may be correct in thinking it is impossible for Britain to act ‘like good Europeans’. Thus, one proposed solution to the sterling problem, monetary association with Europe, would have little support on the Continent. Strange finally focuses on the British government’s economic philosophy and its lack of political will as the key problems; issues she would return to frequently, not least of all in her later criticisms of American foreign economic policy.
Keywords: Europe; Money and Finance; European Integration