Nineties Pound Crisis Newspaper

A business lady reads a 1992 edition of the Evening Standard whose headline reports on the 15% load rate after two days when Prime Minister John Major fought the Pound Crisis, in the City of London (the capital's financial district, aka The Square Mile), the capital's financial centre, on 18th September 1992, in London, England. Black Wednesday occurred in the United Kingdom on 16 September 1992, when John Major's Conservative government was forced to withdraw the pound sterling from the European Exchange Rate Mechanism (ERM) after it was unable to keep the pound above its agreed lower limit in the ERM. (Photo by Richard Baker / In Pictures via Getty Images)