Black Wednesday: Difference between revisions

Revision as of 20:20, 25 January 2022

16 September 1992. Day when the Pound Sterling suffered a drastic decline in value which subsequently caused the UK to withdraw from the European Exchange Rate Mechanism (ERM).

References

Budd, A. Black Wednesday - a Re-Examination of Britain's Experience in the Exchange Rate Mechanism. IEA Occasional Paper No. 135 (2005). http://dx.doi.org/10.2139/ssrn.734203

Greenway, D. "Policy Forum: UK Macroeconomic Policy After Black Wednesday: Editorial Note". The Economic Journal 107.443 (1997): 1126–1127. https://doi.org/10.1111/j.1468-0297.1997.tb00012.x

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-== Black Wednesday ==
+September 1992. Day when the Pound Sterling suffered a drastic decline in value which subsequently caused the UK to withdraw from the European Exchange Rate Mechanism (ERM).
-Black Wednesday is a term used to refer to September 16th, 1992 when UK currency, Pound Sterling, suffered a drastic decline in value which subsequently caused the UK to withdraw from the European Exchange Rate Mechanism (ERM) which is an economic system that was introduced to ensure the economic growth of European nations and required members currencies to maintain a specific minimum value. The UK Pound Sterling could not maintain above the required margin and the UK was forced out of ERM.
-=== Consequences & Effects ===
-Withdrawal from European ERM impact caused Pound Sterling to further.
 === References ===
-Budd, A. (2005) Black Wednesday - a Re-Examination of Britain's Experience in the Exchange Rate Mechanism. IEA Occasional Paper No. 135. http://dx.doi.org/10.2139/ssrn.734203
+Budd, A. ''Black Wednesday - a Re-Examination of Britain's Experience in the Exchange Rate Mechanism''. IEA Occasional Paper No. 135 (2005). http://dx.doi.org/10.2139/ssrn.734203
-Greenway, D. (2012). Policy Forum: UK Macroeconomic Policy After Black Wednesday: Editorial Note. The Economic Journal, Volume 107, Issue 443, 1 July 1997, Pages 1126–1127. https://doi.org/10.1111/j.1468-0297.1997.tb00012.x
+Greenway, D. "Policy Forum: UK Macroeconomic Policy After Black Wednesday: Editorial Note". ''The Economic Journal'' 107.443 (1997): 1126–1127. https://doi.org/10.1111/j.1468-0297.1997.tb00012.x