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Six Days in September hardcover - £20

Kindle edition available here.

Britain entered the European exchange rate mechanism in desperation, left in disgrace and prospered thereafter– presaging the 2016 vote to leave the European Union. Britain’s 1990 entry was accompanied by a secret Bank of England warning of future trouble. On leaving in 1992, Prime Minister John Major insisted on time-wasting consultation that led to exhaustion of Britain’s reserves. Helmut Schlesinger, Bundesbank president in 1992, says in the book he ‘regrets to this day’ how his remarks on currencies helped precipitate the run on the pound.

Praise for Six Days in September

‘David Marsh, William Keegan and Richard Roberts have written a very balanced and detailed account of the events leading up to the 1992 ERM crisis. As a result of their diligent research they have unearthed many details, some which even I had forgotten. The book will be required reading for all those interested in this period.’
Lord (Norman) Lamont, Chancellor of the Exchequer (1990-93)

‘As well as providing a dramatic account of the events leading to Black Wednesday, this book illustrates the stresses and strains of operating a single currency without ultimately requiring economic and eventual political union. It’s an issue that’s been fudged since the inception of the euro but it will never go away. It’s not an argument for Brexit, but rather it should encourage consideration of a new and pragmatic settlement for Europe, one which the UK could comfortably be part of.’
Lord (Alistair) Darling, Chancellor of the Exchequer (2007-10)

‘A terrific book that dissects a crucial episode in the UK’s strained relationship with continental Europe and with German economic thinking.’
Prof. Harold James, Professor of History and International Affairs, Princeton University; author, Making the European Monetary Union

‘Six Days in September is a book for those who were there at the crash of sterling out of the exchange rate mechanism. It’s also for the rest of us who want to understand how the UK steadily distanced itself from European monetary union and then the European Union itself with Brexit. A riveting account written by three authors who bring their unique and varied talents to tell an electrifying story.’
Prof. Lord (Meghnad) Desai, Emeritus Professor of Economics, London School of Economics and Political Science

‘A wonderful book. Living through the events before, during and after “Black Wednesday” was a dramatic experience. Reliving them through Six Days in September revives all the drama, but now mixed with deep insight and understanding.’
Roger Bootle, Executive Chairman, Capital Economics; author, The Trouble with Europe

‘Six Days in September brings numerous new insights and delivers a fascinating picture of a key episode in European monetary history.’
Prof. Otmar Issing, President, Center for Financial Studies at Goethe University, Frankfurt; Board Member for Economics, Deutsche Bundesbank (1990-98) and European Central Bank (1998-2006)

‘A hugely valuable follow-on from OMFIF’s earlier splendid publication by Richard Roberts analysing the 1976 sterling crisis. Brexit is just the latest in a series of headline-grabbing, reputation-destroying British crises. While “Black” Wednesday ultimately helped Britain by (just) keeping us out of the euro, faster growth than on the continent was down to Thatcherism. Exaggerated forecasts of Brexit effects from both sides are equally implausible.’
Charles Dumas, Chief Economist, TS Lombard, formerly Lombard Street Research

‘Six Days in September is no dry study of dreary economics. It is a dramatic story of people and politics and of events that resonate to this day.’
Sir Stephen Wall, UK Permanent Representative to the European Union (1995-2000); EU Adviser to UK Prime Minister (2000-04); author, A Stranger in Europe

‘This is a brilliant book, authoritative, informative and combining the elements of a Greek tragedy with the suspense of a modern Scandinavian thriller. While stripping bare the events and personalities that led to and followed Black Wednesday, Six Days in September provides important insight into Britain’s roller-coaster relationship with the European Union and why we are now on the verge of a catastrophic Brexit.’
Sir Brian Unwin, President, European Investment Bank (1993-2000)