Black Wednesday

16 September 1992. Day when the Pound Sterling suffered a drastic decline in value which subsequently caused the UK to withdraw from the European Exchange Rate Mechanism (ERM).

References

Budd, A. Black Wednesday - a Re-Examination of Britain's Experience in the Exchange Rate Mechanism. IEA Occasional Paper No. 135 (2005). http://dx.doi.org/10.2139/ssrn.734203

Greenway, D. "Policy Forum: UK Macroeconomic Policy After Black Wednesday: Editorial Note". The Economic Journal 107.443 (1997): 1126–1127. https://doi.org/10.1111/j.1468-0297.1997.tb00012.x