AHC: UK and Italy remain in EMS, (and UK joins Euro)

The EMS/ERM was the predecessor to the Euro and in a bid to get the Eurozone to include the UK I'm wondering if there was any way to avoid http://en.wikipedia.org/wiki/Black_Wednesday.

What I think is either:

1. Germany does not raise interest rates on reunification.
2. An earlier joining into the ERM allows the UK to better handle German interest rises.
3. The ERM sees what is happening and raises the bands before Italy and UK hit them.

Without Black Wednesday I think there would have been more support for the Euro, and greater support for the Euro leading into the UK joining the Eurozone would have meant less or at least less impactful Euroskepticism.

Bonus points if the UK doesn't waste it's gold (shouldn't) and foreign reserves in joining the Euro.
 
... and greater support for the Euro leading into the UK joining the Eurozone would have meant less or at least less impactful Euro-scepticism.
I'm not sure that would really be the case. Even if it did see a drop in EU-scepticism you can bet that it would return with a vengeance and at even higher levels once the European debt crisis hit in 2009. Just look at what its done to public opinion and support in Eurozone members countries.
 
I'm not sure that would really be the case. Even if it did see a drop in EU-scepticism you can bet that it would return with a vengeance and at even higher levels once the European debt crisis hit in 2009. Just look at what its done to public opinion and support in Eurozone members countries.

Once you've sunk a significant cost into joining the Euro, separating from it is that much harder because of the extra cost of reintroducing a currency.

Would the impact of the debt crisis not be softed to a great degree with a stronger Euro? The housing crisis stemmed from the USA after all and with a stronger Euro the too cheap credit given to the governments would be spread over a bigger economy.
 
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