Hello everyone, this is my first thread here and I'd like to start with Operation Sealion... Just kidding!
Following Black Wednesday and the United Kingdom's withdrawal from ERM-I, Italy and other countries also ran into problems, and ten months later the rules were relaxed to the point of imposing very little constraint on the domestic monetary policies of member states.
My point of divergence is that these rules are relaxed a few months before Black Wednesday, therefore avoiding it altogether - the UK has far greater breathing space to react to the speculators' onslaught and easily prevails over them.
What are the consequences of this? Most importantly, can Major win the 1997 election now that the Tories are still seen as good with the economy, and will the UK join the euro?
Following Black Wednesday and the United Kingdom's withdrawal from ERM-I, Italy and other countries also ran into problems, and ten months later the rules were relaxed to the point of imposing very little constraint on the domestic monetary policies of member states.
My point of divergence is that these rules are relaxed a few months before Black Wednesday, therefore avoiding it altogether - the UK has far greater breathing space to react to the speculators' onslaught and easily prevails over them.
What are the consequences of this? Most importantly, can Major win the 1997 election now that the Tories are still seen as good with the economy, and will the UK join the euro?
Last edited: