Nick Hubble

Nick Hubble

Europe’s Black Wednesday is coming

26 April 2021
The European Exchange Rate Mechanism (ERM) was a disaster. Between 1979 and 1987, there were 12 realignments of the ERM. In 1992, things kicked off big time, with Finland, Italy, the UK, Sweden, Portugal, Spain, Norway and Ireland devaluing or abandoning the peg. The UK’s departure became known as Black Wednesday.