Sterling since Black Wednesday

21st Anniversary of Black Wednesday

September 16, 2013

Sterling abandoned the Exchange Rate Mechanism (ERM) 21 years ago this day.  The ERM served as training wheels for currencies aspiring to join the European Currency Mechanism.  The British pound was a late comer to the ERM, joining in October 1990.  Former Prime Minister Margaret Thatcher had long opposed the action.  The ERM had been […] More