Black Wednesday 1992. Crisis Scenario around the British Pound and One-Way-Bet Scenario

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Focusing on a pivotal event in economic history, the paper examines Black Wednesday, which occurred on September 16, 1992. It highlights how the British government was compelled to exit the European Exchange Rate Mechanism after failing to maintain the currency above its designated lower limit. The analysis provides insights into the political and economic implications of this crisis, making it a significant study for understanding macroeconomic principles and currency stability.