Sterling work
Of major import to the City was the lack of emotion displayed by Geoffrey Rippon when faced with the desire of the French to dis- cuss the role of sterling in connection with our entry into the Common Market Club.
Others were less phlegmatic. The Times,
for example, raised its eyebrows at this un- friendly turn-about. But Mr Rippon went on smiling. He was moderately unsurprised. It is clear that the role of sterling as a reserve currency is doomed if we enter the Market —and Mr Rippon has already faced up to this, along with the Foreign Office.
The attitude of the Tteasury on this is more inscrutable. On the Common Market as a whole it is light-yeats less enthusiastic than the Foreign Office which responds to Mr Rippon's ebullience. The City have not yet faced up to the tremendous implications of this possible change. When it does. I expect to see Mr Rippon being dined out— and questioned hard.
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