Wednesday, February 09, 2005

On September 16th 1992 John Major's government came under financial attack from currency speculators taking advantage of our unnaturally high exchange rates due to the UK being part of the EU's Exchange Rate Mechanism. It became known as "Black Wednesday" and heralded the downfall of John Major's government, a resettling of interest rates and eventually an upturn in the economy - as discussed here.

Wikipedia has the story in layman's terms.

As you'll see from the end of the Wikipedia entry, there are others who say that this led to an upturn in the country's fortunes. I would have expected the Labour party to be one of them, but apparently not, as they've decided to hold back some of the more juicy details from that day's activities when they release papers later today.

It's not a particularly interesting story, but it's one that got me suspicious. For the conspiracy theorists among you, it should be one to delve further into.

Now what was the address of that site that published details of Tony Blair's daughter's suicide attempts?