<a href="https://en.wikipedia.org/wiki/Black_Wednesday" id="mw5w" rel="mw:WikiLink" title="Black Wednesday">Black Wednesday</a>: The British pound is forced out of the <a href="https://en.wikipedia.org/wiki/European_Exchange_Rate_Mechanism" id="mw6A" rel="mw:WikiLink" title="European Exchange Rate Mechanism">European Exchange Rate Mechanism</a> by currency speculators and is forced to devalue against the German mark.