White Wednesday, Thirty Years On

BY ANDREW GIBSON Today, the 16th September, marks the thirtieth anniversary of the pound sterling’s suspension from the Exchange Rate Mechanism (ERM), an event that broke the credibility of the Major Government, emboldened the intellectual self-confidence of British Eurosceptics, and taught important lessons about the folly of large-scale state interventions in the economy. The episode also revealed John Major’s unattractive, low cunning. ERM membership was … Continue reading White Wednesday, Thirty Years On