Chancellor of the Exchequer Norman Lamont on Black Wednesday
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Britain and Europe: Black Wednesday

One of the lowest points in Britain's relationship with Europe was Britain's withdrawal from the Exchange Rate Mechanism on 16 September 1992, which became known as Black Wednesday.

Chancellor of the Exchequer Norman Lamont was forced to announce Britain's withdrawal after desperate government attempts to fend off currency speculation.

This is how the BBC's Peter Jay relayed that dramatic day on the evening news.

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