>Falling out of ERM kept the UK out of the Euro, which was beneficial in the long run. Perhaps. That's certainly conventional wisdom, but we have no way of kno

>Falling out of ERM kept the UK out of the Euro, which was beneficial in the long run. Perhaps. That's certainly conventional wisdom, but we have no way of knowing what the political or economical landscape would have been if the UK stayed in the ERM and was now in the Eurozone. 20+ years is a long time.