Discuss in detail the events that led to black wednesday, Ask an Expert

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Discuss in detail the events that led to 'Black Wednesday'. Also describe how eventually Britain was able to recover from that currency shock. (Hint: Black Wednesday refers to 16th September 1992, when British Government was forced to withdraw the Pound sterling from the European Exchange Rate system (ERM) after it failed to sustain Pound above the agreed upon lower level as per the ERM Rules)

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