Black Wednesday
September 16, 1992
George Soros and other speculators attacked the British pound, forcing the UK out of the European Exchange Rate Mechanism in a single day. Soros personally made a billion dollars. The Conservative government's economic credibility collapsed, and the Major government never really recovered. Global currency markets had shown they could overpower national treasuries.
In context
Also in 1992 (4 other events on record)
- Maastricht Treaty signed · Europe · Politics
- Siege of Sarajevo begins · Europe · War
- Los Angeles riots · North America · Politics
- Earth Summit in Rio · South America · Politics
Before and after in Europe
Before and after in Politics
Era
Modern Era (1901–2000), one of 590 events from that era on Saeculum.
Sources