Tue 11 Dec 2018 / Europe
Brexit tumult recalls Black Wednesday
The UK is in a fast-changing situation with much at stake. The degree of uncertainty over the future path of government policy on Brexit calls to mind the days running up to Black Wednesday in September 1992, when the UK attempted to raise base rates twice to defend the pound before crashing out of the European exchange rate mechanism. Prime Minister Theresa May has outlined three options for the UK as it looks to exit the European Union: her deal, no deal, or no Brexit at all. Though none seems probable, one of them must happen.