Quote:
Originally Posted by Tealeaf
This evening, the pound closed at 1.10 euro. It is not implausible that we will see parity within a few weeks. I don't suppose then it will matter what new notes are printed; all Brown and his chums will do will be to peg the rate at 1:1, let the Euro take over and shift blame for all our economic woes on the Common Market.
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..Oh how we tend to forget the past... perhaps we should re- join the ERM ..Thatcher and Lamont's doing... the closest this country has ever been to joining the Euro!
Chancellor Norman Lamont raised interest rates from 10% to 12%, then to 15%, and authorised the spending of billions of pounds to buy up the sterling being frantically sold on the currency markets.
BBC ON THIS DAY | 16 | 1992: UK crashes out of ERM