Black Wednesday
On 16 September 1992, the UK government withdrew the pound sterling from the European Exchange Rate Mechanism after failing to maintain its value.
Synopsis
On 16 September 1992, the UK government withdrew the pound sterling from the European Exchange Rate Mechanism after failing to maintain its value.
Synopsis
On 16 September 1992, British Prime Minister John Major faced a crisis as the pound sterling fell below its agreed limit in the European Exchange Rate Mechanism (ERM). The Conservative government struggled to maintain the currency's value. Ultimately, it withdrew the pound from the ERM. This event, known as Black Wednesday, marked a significant moment in British economic history. The documentary details the political and economic turmoil surrounding this decision.
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