Black Wednesday and Brexit

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Difference between Black Wednesday and Brexit

Black Wednesday vs. Brexit

Black Wednesday occurred in the United Kingdom on 16 September 1992, when John Major's Conservative government was forced to withdraw the pound sterling from the European Exchange Rate Mechanism (ERM) after it was unable to keep the pound above its agreed lower limit in the ERM. Brexit is the impending withdrawal of the United Kingdom (UK) from the European Union (EU).

Chancellor of the Exchequer

The Chancellor and Under-Treasurer of Her Majesty's Exchequer, commonly known as the Chancellor of the Exchequer, or simply the Chancellor, is a senior official within the Government of the United Kingdom and head of Her Majesty's Treasury.

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Conservative Party (UK)

The Conservative Party, officially the Conservative and Unionist Party, is a centre-right political party in the United Kingdom.

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Deutsche Mark

The Deutsche Mark ("German mark"), abbreviated "DM" or, was the official currency of West Germany from 1948 until 1990 and later the unified Germany from 1990 until 2002.

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European Exchange Rate Mechanism

The European Exchange Rate Mechanism (ERM) was a system introduced by the European Economic Community on 13 March 1979, as part of the European Monetary System (EMS), to reduce exchange rate variability and achieve monetary stability in Europe, in preparation for Economic and Monetary Union and the introduction of a single currency, the euro, which took place on 1 January 1999.

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European Union

The European Union (EU) is a political and economic union of EUnum member states that are located primarily in Europe.

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Maastricht Treaty

The Treaty on European Union (TEU; also referred to as the Treaty of Maastricht is one of two treaties forming the constitutional basis of the European Union (EU), the other being the Treaty on the Functioning of the European Union (TFEU; also referred to as the Treaty of Rome). The TEU was originally signed on 7 February 1992 by the members of the European Community in Maastricht, Netherlands to further European integration. On 9–10 December 1991, the same city hosted the European Council which drafted the treaty. Upon its entry into force on 1 November 1993 during the Delors Commission, it created the three pillars structure of the European Union and led to the creation of the single European currency, the euro. TEU comprised two novel titles respectively on Common Foreign and Security Policy and Cooperation in the Fields of Justice and Home Affairs, which replaced the former informal intergovernmental cooperation bodies named TREVI and European Political Cooperation on EU Foreign policy coordination. In addition TEU also comprised three titles which amended the three pre-existing community treaties: Treaty establishing the European Atomic Energy Community, Treaty establishing the European Coal and Steel Community, and the Treaty establishing the European Economic Community which had its abbreviation renamed from TEEC to TEC (being known as TFEU since 2007). The Maastricht Treaty (TEU) and all pre-existing treaties, has subsequently been further amended by the treaties of Amsterdam (1997), Nice (2001) and Lisbon (2009).

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Pound sterling

The pound sterling (symbol: £; ISO code: GBP), commonly known as the pound and less commonly referred to as Sterling, is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, and Tristan da Cunha.

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Secretary of State for Foreign and Commonwealth Affairs

Her Majesty's Principal Secretary of State for Foreign and Commonwealth Affairs, normally referred to as the Foreign Secretary, is a senior, high-ranking official within the Government of the United Kingdom and head of the Foreign and Commonwealth Office.

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The Daily Telegraph

The Daily Telegraph, commonly referred to simply as The Telegraph, is a national British daily broadsheet newspaper published in London by Telegraph Media Group and distributed across the United Kingdom and internationally.

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United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed with some organisations, including the and preferring to use Britain as shorthand for Great Britain is a sovereign country in western Europe.

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United Kingdom European Union membership referendum, 2016

The United Kingdom European Union membership referendum, also known as the EU referendum and the Brexit referendum, took place on 23 June 2016 in the United Kingdom (UK) and Gibraltar to gauge support for the country either remaining a member of, or leaving, the European Union (EU) under the provisions of the European Union Referendum Act 2015 and also the Political Parties, Elections and Referendums Act 2000.

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