Black Wednesday [SEP] point in time
Black Wednesday
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. In 1997, the UK Treasury estimated the cost of Black Wednesday at £3.4 billion. In 2005, documents released under the Freedom of Information Act indicated that the actual cost may have been slightly less, £3.3 billion. At
, but lost 1-2 but the hope was nevertheless still alive, if only West Germany (that by this time never had lost any such game ever, and was playing at home) just took a single point, that would have been enough, but they didn't. The event became known as ""Den svarta onsdagen"" in Sweden ("The black Wednesday").