When the ERM was set up in 1979, the United Kingdom declined to join. This was a controversial decision, as the Chancellor of the Exchequer, Geoffrey Howe, was staunchly pro … See more

The UK government attempted to prop up the depreciating pound to avoid withdrawal from the monetary system the country had joined only two … See more

In 1997, the UK Treasury estimated the cost of Black Wednesday at £3.14 billion, which was revised to £3.3 billion in 2005, following … See more

1. ^ McRae, Hamish (10 February 2005). How the ERM disaster turned into a triumph. The Independent. Retrieved 21 October 2019. See more

Other ERM countries such as Italy, whose currencies had breached their bands during the day, returned to the system with broadened bands or … See more

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• Impossible trinity – Trilemma in international economics
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• Sterling crisis (disambiguation), other currency crises in … See more

• Black Wednesday, bbc.co.uk. Retrieved 11 January 2017.
• open.edu 24, September 2009 Archived 28 May 2010 at the Wayback Machine, Martin Upton, head of the Centre for Financial Management at The Open University Business … See more