Why do the British turn to the Germans in their moments of European trouble? It never works. When Jacques Delors conceived his single currency plans, Mrs Thatcher over-relied on Karl Otto Pöhl at the Bundesbank to squash them. Dr Pöhl preferred to side with Helmut Kohl. When Britain was struggling to stay in the ERM in the late summer of 1992, the Major government put faith in what they thought were German promises to help them out.
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