The Week
The pound continued to sag in spite of a statement by West German Chancellor Schmidt that sterling was undervalued. Our own Chancellor Healey imposed the highest ever mortgage and overdraft rates but claimed, inexplicably, that the squeeze might only last a few weeks. He has not explained how Great Britain will cut public expenditure. In Italy, the other collapsed country of Europe, the public appear to have accepted the drastic measures of economy including petrol at £1.65 a gallon, the abolition of several holidays and the virtual banning of cars from the cities.
The Labour MP for Blyth was acquitted of knowingly making false returns on election expenses but his agent was found guilty of the same offence. Mr Ryman at the last election had narrowly beaten Eddie Milne the former MP expelled from the Labour Party for exposing corruption in the NorthEast Labour Party. Another North-East M P and M line's arch-foe, Edward Short, resigned the deputy leadership of the Labour Party to take up a £9,000 a year job at Cable and Wireless.
The Sunday Times launched its ne\v Theatre Critic, Bernard Levin, new TV Critic Dennis Potter and new Film Critic Alan Brien who got off to a bad if predictable start by praising the latest trendy filth. A vast crowd in Bulawayo greeted Joshua Nkomo, the main rival to Bishop Muzorewa as leader of the black Rhodesians. Apparently Mr Nkomo, who is supposed to be a friend of capitalism, has done a deal with the guerrilla leader Robert Mugabe, who is suPposed to be a Marxist.
It was a bad week for President Ford. He lost much of the Polish vote by claiming that Poland was not under Russian control. He made things worse by trying to explain what he had meant. He made up for this by wooing the Jewish vote but only after the Israeli government had twisted his arm by asking for new shipments of weapons.
In China, Mao's widow and three other members of what is described as the 'Shanghai group' are said to have been arrested. They are said to have been part of an ultra left faction.
It was also a bad week for Jim Slater, the much-indebted financier. The Home Office have agreed to let the Singapore government apply to Metropolitan Magistrates for his extradition. His successor as chairman of Slater Walker, Sir James Goldsmith, said the name Slater would now be dropped from the name of the company. Investigations are under way into another former Slater company that had provided 'incentives' to its executives.
The two women leaders of Belfast's 'peace movement' were set upon by a crowd of angry Roman Catholics. In England heavY prison sentences were awarded to two gangs of terrorist bombers, one Roman Catholic, one Protestant.
Fresh controversy broke out in South Africa over apartheid in sport after a Dr Koornhot, the Sports Minister, warned eight white rugby football players not to play in a mixed game. The South African cricketer Barry Richards who is due to go to Australia for their summer season said he would not try to explain South Africa's new sports policy as he did not understand it.
The British light-heavyweight John Conteh defeated 'Yaqui' Lopez of California after having been called 'chicken' by Argentine boxer Victor Galindez. 'It was an ignorant remark to make,' said Conteh, Joe Bugner took two minutes to regain his various 'heavyweight titles'.
And the news that Liz Taylor plans to marry a seventh time burst on the world like an eggshell.
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