A Long Time In Finance
Remembering Black Wednesday: Part One
On 16 September 1992, after an "extremely difficult and turbulent day", sterling was driven out of the Exchange Rate Mechanism, shattering the central economic policy of John Major's government and arguably setting Britain on a path to the fringes of, and ultimately the exit from, the European Union. In the first of a three-part series, Neil and Jonathan look back on the run up to the crisis with Jonathan Portes, Sir Paul Tucker, both of whom had ringside seats in the Treasury and Bank of England respectively, and economic historian Duncan Weldon.
Presented by Jonathan Ford and Neil Collins.
With Sir Paul Tucker, Jonathan Portes, and Duncan Weldon.
Produced and edited by Nick Hilton for Podot.
Additional editing by Ewan Cameron.