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16 September 1992: The Black Wednesday That Changed Britain's Fate

2 monthes ago   |   By Luxuo

Great Britain's Ex-Prime Minister John Major and Ex-Chancellor of Exchequer Norman Lamont .
16 September this year marked the 30th anniversary of the Pound Sterling's ejection from the European Monetary System. Described as a “disastrous day” by then Prime Minister John Major, he never recovered politically from that momentous day. The ex-Chancellor of the Exchequer was convinced that the indexation to the Deutsche Mark, which underlay the EMS, would at least indirectly benefit an unstable British economy conducive to inflationary outbreaks. But he did not manage to persuade Margaret...
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