![f004-02](https://article-imgs.scribdassets.com/45dqfs6a80aasf5s/images/fileSWIEE4KI.jpg)
![f004-01](https://article-imgs.scribdassets.com/45dqfs6a80aasf5s/images/fileAIAY5REW.jpg)
“IMF, ERM, Lehman” – the course of Britain’s politics has often “been set by tumultuous events in financial markets”, says Gerard Baker in The Times. This could prove a similar turning point. The Bank of England’s emergency intervention (see page 14) has calmed the turmoil in gilt and currency markets. The