In 1960 the pound was losing value and cause Britain to buy more items from other countries rather than selling to them. This was when Harold Wilson came in to office and decided to freeze wages and prices, so that they could balance the spending with what they produce. People in Britain did not like this, they saw it as him favoring the rich over the poor, but in the end it did what he expected. By 1969 the deficit was gone and general prosperity continued. In many parts of Europe they were having some type of problem with their economy postwar but were able to bring it back up. For example in Italy, their economy was down postwar, until 1953 to 1966 when their economies grow substantially. The growth of the economy was due to the politics in place postwar, regulations and panning. Italy saw a lot of profit from tourist, clothing and creating more business. This did not last long, politics started to break apart and a huge inflation hit Italy. This was caused by scandals and corruption in office. This led to a higher inflation the cause 2 millions Italians to become unemployed. Similar situations like this happen all around Europe. Most of Europe gains an economic boom and was able to keep it, some gained it, lost it and had to work hard to rebuild it through political
In 1960 the pound was losing value and cause Britain to buy more items from other countries rather than selling to them. This was when Harold Wilson came in to office and decided to freeze wages and prices, so that they could balance the spending with what they produce. People in Britain did not like this, they saw it as him favoring the rich over the poor, but in the end it did what he expected. By 1969 the deficit was gone and general prosperity continued. In many parts of Europe they were having some type of problem with their economy postwar but were able to bring it back up. For example in Italy, their economy was down postwar, until 1953 to 1966 when their economies grow substantially. The growth of the economy was due to the politics in place postwar, regulations and panning. Italy saw a lot of profit from tourist, clothing and creating more business. This did not last long, politics started to break apart and a huge inflation hit Italy. This was caused by scandals and corruption in office. This led to a higher inflation the cause 2 millions Italians to become unemployed. Similar situations like this happen all around Europe. Most of Europe gains an economic boom and was able to keep it, some gained it, lost it and had to work hard to rebuild it through political