The British Conservative Government and the European Exchange Rate Mechanism

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The book examines the evolution of the British Conservative government's policy toward the European Exchange Rate Mechanism from 1979 to 1994, highlighting its impact on the party's leadership. It details significant events, including the rift between Margaret Thatcher and Nigel Lawson, illustrating how ERM policy contributed to the collapse of Thatcher's government and the subsequent loss of credibility for John Major's administration. Through these dramatic episodes, the text provides a critical analysis of the political consequences of economic decisions.