in downing st! the british economy was already... there were enormous questions marks over the british economy, and there have been since 2016, for reasons we all know, but also longer—term. we do badly on a number of important factors, like productivity, and investment, for example. so, it was not looking terribly... excuse me. but the credibility issue, if you get rebuked, when you are a g7 country and you get rebuked by the imf, you really have messed up, and these rebukes have not been disguised at all. as you say, i have been in nairobi all week. people were shaking their heads and saying, "what has happened to britain? we used to admire britain, we used to think it was a country of sensible politics and sensible economics," and they are just scratching their heads, they cannot believe it. thomas, do you want to put this in some historical context? you came in the 1960s... i think you had already left by the time the labour government devalued the pound. i was still here for that. you were in the us when

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