Statement on the Economic Situation in the United Kingdom.

THE UNITED States has the highest confidence in the ability of the United Kingdom to overcome its present economic difficulties. The British Government has taken a number of positive steps. We are further encouraged by Britain's decision to seek a standby agreement with the International Monetary Fund. As I have already stated publicly, the United States will fully support an agreement reached between Britain and the IMF. As a matter of general policy, it is the abiding purpose of the United States to see the United Kingdom as a vigorous member of the European Community, the North Atlantic Alliance, and other international institutions whose goal it is to build a better and safer world.