Pressures within the exchange rate mechanism
of the EMS also cased somewhat after the concerted central bank initiative.
FORMER Tory Chancellor Lord Lamont yesterday warned that euro entry carried ``very similar risks'' to the Exchange Rate Mechanism
which culminated in the Black Wednesday debacle.
Sterling also benefited during this period as relatively high yields coincided with an increasing sense on the part of market participants that the United Kingdom would soon join the Exchange Rate Mechanism
(ERM) of the European Monetary System.
9140, its highest since the run-up to Black Wednesday in September 1992 when sterling crashed out of the European Exchange Rate Mechanism
On September 16 1992, the pound crashed out of the European exchange rate mechanism
and triggered financial chaos.
And don't forget what happened in 1991/1992 during our membership of the Exchange Rate Mechanism
In fact, an adjustment of the EMS was announced on January 5 to accommodate a request from the Italian government to bring the Italian lira within the narrow band of the exchange rate mechanism
of the EMS.
He was mindful of the damage inflicted on the British economy by the disastrous experiment with the Exchange Rate Mechanism
, which ended with Black Wednesday in September 1992.
Hungarian-born Soros's dealings forced the pound out of the exchange rate mechanism
on Black Wednesday in 1992.
Lord Lamont was running the Treasury on Black Wednesday in 1992, when Britain withdrew from the European Exchange Rate Mechanism
That was the day - September 16, 1992 - when the UK crashed out of the European exchange rate mechanism
and interest rates rocketed to 15 per cent as international speculator George Soros wreaked havoc with sterling.
8 - a fall not seen since 1992 when Tory Chancellor Norman Lamont pulled Britain out of the European exchange rate mechanism