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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.
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