the best hope of course is that the rates which the government has chosen to go in at will be sustainable, that the government will be able to combine cuts with interest rates, cuts in interest rates, with the needs of the economy and the constraints of the european monetary system, so that it actually gets a downward path of interest rates at the rate which the economy needs, without provoking a sterling crisis which would push sterling to the bottom of its permitted rates, and produce a crisis of erm of confidence needing higher interest rates.