In the early 1990s the European Monetary System was strained by the differing economic policies and conditions of its members, especially the newly reunified Germany, and Britain (which had initially declined to join and only did so in 1990) permanently withdrew from the system in September 1992.
I begyndelsen af 1990'erne blev Det Europæiske Monetære System belastet af de forskellige økonomiske politikker og vilkår for medlemmerne, bl.a. det nyligt genforenede Tyskland, og Storbritannien (som oprindeligt havde afvist at deltage, og kun gjorde det i 1990) permanent trak sig ud af systemet i september 1992.