McEwen's most serious disagreement with Holt came in November 1967, when it was announced that Australia – which had converted to decimal currency the previous year – would not follow the recent devaluation of the pound sterling. This effectively marked Australia's withdrawal from the sterling area. McEwen issued a public statement criticising the decision, which he feared would damage primary industry. Holt considered this a breach of cabinet solidarity, and made preparations for the Liberal Party to govern in its own right in case the Country Party withdrew from the government. The situation was eventually resolved In Holt's favour.