3 ms·
If I understand it, this is similar to the UK / ERM 1992 "Black Wednesday" https://en.wikipedia.org/wiki/Black_Wednesday https://en.wikipedia.org/wiki/Black_We
by outsomnia 4y ago
If I understand it, this is similar to the UK / ERM 1992 "Black Wednesday"
https://en.wikipedia.org/wiki/Black_Wednesday https://en.wikipedia.org/wiki/Black_Wednesday
There were more people wanting to sell the pound for Euros at the rate mandated by the ERM than resources the UK had to maintain the arbitrary exchange rate and "it did not end well".