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Black Wednesday
In British politics and economics, Black Wednesday refers to 16 September 1992 when the Conservative government was forced to withdraw the Pound from the European Exchange Rate Mechanism (ERM) due to pressure by currency speculators—most notably George Soros who made over US$1 billion from this speculation. In 1997 the UK Treasury estimated the cost of Black Wednesday at £3.4 billion.
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When did it take place?
16-September-1992Where did it take place?
All over the UKUnited Kingdom
Who was involved?
British financial institutions, polititians and investors.
Views: 444
Category: Financial
Added: 13-Dec-2007
Category: Financial
Added: 13-Dec-2007
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