The International Monetary Fund
Prior to the "Winter of Discontent", the Callaghan government had sought (in 1976) an International Monetary Fund loan of £2.3bn to combat the rampant inflation at that time. This was perceived as a humiliation for a former imperial power and the nadir of the post-war economic decline, helping to pave the way for Margaret Thatcher's 1979 General Election victory.
Read more about this topic: Winter Of Discontent
Famous quotes containing the words monetary and/or fund:
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“School success is not predicted by a child’s fund of facts or a precocious ability to read as much as by emotional and social measures; being self-assured and interested: knowing what kind of behavior is expected and how to rein in the impulse to misbehave; being able to wait, to follow directions, and to turn to teachers for help; and expressing needs while getting along with other children.”
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