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Showing 1 - 10 of 10 results for "Exchange Rate Mechanism"

Chief economist update: An extra mile for a deal

BENJAMIN ONG | MONDAY, 14 DEC 2020

... before you cry, "the sky is falling", note that the UK has left a European grouping not so long ago - the Exchange Rate Mechanism (ERM) that was aimed at promoting financial stability across Europe. The UK exited the ERM on 16 September 1992 - two years ...

Chief economist update: Annus horribilis with a vengeance

BENJAMIN ONG | FRIDAY, 8 MAY 2020

... growth shrank for the seventh straight quarter in June 1992 and the pound sterling was forced out of the Exchange Rate Mechanism (ERM) on the 16th of September of the same year - sending the British currency crashing by 18.2% and making George Soros ...

Euro - another experiment doomed to fail?

BENJAMIN ONG | MONDAY, 29 JUN 2015

... Eurozone, what is at greater risk is the very existence of the single currency experiment. Like the European exchange rate mechanism (ERM) - and other unifying experiments before that - the euro will be another failed experiment. The European powers ...

Grexit not Greek to Brits

BENJAMIN ONG | TUESDAY, 17 FEB 2015

... slap in the face for money unity experimentation in Europe. The most recent one before the euro was the "Exchange Rate Mechanism" (ERM) where European currencies were required to maintain their currencies within a band. It was established in 1979 and ...

Spain here we come

BENJAMIN ONG | THURSDAY, 15 NOV 2012

... because it must abide by the code of the single currency. The same code that forced Britain out of the Exchange Rate Mechanism (ERM) in the early 1990s, for like Spain now, it could not implement policies independent of its European brethrens. The Australian ...

The end is not nigh

BENJAMIN ONG | MONDAY, 14 MAY 2012

... the Eurozone a reality - and at the same time avoid the pitfalls that disintegrated its predecessor, the Exchange Rate Mechanism (ERM) - that they're not gonna let this one go. This is because the cost of a break-up would be more than the price of glue ...

More of the same

BENJAMIN ONG | FRIDAY, 18 NOV 2011

... Bundesbank - and its insistence of maintaining high interest rates in the early 1990s - that unshackled the old exchange rate mechanism (ERM)? The Germans have shown that they're able to change their stance over the past few months, especially when the ...

Autumn Angst

BENJAMIN ONG | THURSDAY, 10 NOV 2011

... this once before (for those of us ancient enough to remember) when the United Kingdom opted out of the Exchange Rate Mechanism (ERM) back in late 1992. In what is now dubbed "Black Wednesday" the British pound plunged by more than 4.2% on 16 September ...

Time to call it quits - again

BENJAMIN ONG | MONDAY, 27 JUN 2011

... Venezuela, Serbia, San Marino in 1889. The Union was disbanded in 1927. The second was the introduction of the Exchange Rate Mechanism in 1979. This too started to fail when the UK was forced out in 1992 - only two years after joining the project.

Flip-flop

BENJAMIN ONG | FRIDAY, 26 MAR 2010

... Bundesbank - refused to budge on monetary policy that eventually led to the break-up of the old European Exchange Rate Mechanism (ERM) -- the precursor to the euro. The saga continues.

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