Oh by the way it was called Black Wednesday and it caused Britain to withdraw from the European Exchange Rate Mechanism at a cost of PS3.
What does EERM stand for?
EERM stands for European Exchange Rate Mechanism
This definition appears rarely and is found in the following Acronym Finder categories:
- Military and Government
- Business, finance, etc.
See other definitions of EERM
We have 1 other meaning of EERM in our Acronym Attic
- Église Évangélique du Réveil et de la Louange (French: Evangelical Revival and Praise)
- Electrical Engineering Research Laboratory
- Electronic Environmental Resources Library (National Science Foundation)
- Emergency Earthquake Recovery Loan (World Bank)
- Energy Engineering Research Laboratory (Japan)
- Engine and Emissions Research Laboratory (West Virginia University)
- Ethanol Europe Renewables Ltd. (Ireland)
- Energy Efficiency Revolving Loan Fund (Ohio)
- Electrical Engineering Reference Manual
- Energy and Environmental Risk Management (course)
- Extended Entity Relationship Model
- Eastern Emergency Relief Network, Inc. (Australia)
- Église Évangélique de la République du Niger (French: Evangelical Church of the Republic of Niger)
- Engineering Employment and Resource Network
- Entreprise d'Entretien Rénovation et Nettoyage (French cleaing company)
- European Environmental Research Organisation
- Expedited Essential Required Operational Capability
- Electrically Erasable Read-Only Memory
- Encyclopedia of Reagents for Organic Synthesis
- Eastern Europe and Rest of the World
Samples in periodicals archive:
The krone is pegged to the euro through an agreement known as the European Exchange Rate Mechanism (ERM II), under which the Danish currency can only move 2.
Bulgaria will join the enter the European Exchange Rate Mechanism (ERM II), commonly known as the Euro Zone waiting room, when the socialists have stayed out of government long enough, according to Finance Minister Simeon Djankov.
Clarke is no stranger to financial crises: he became chancellor in 1993 after so-called Black Wednesday, when the British currency was forced out of the European Exchange Rate Mechanism.
Just as the pound's tumble after Britain left the European exchange rate mechanism in 1992 led to a surge in exports, the weaker pound should help firms exporting to the US and continental Europe.
In fact, some had moved away from the German mark peg following the European Exchange Rate Mechanism (ERM) crisis in 1992-93 and allowed limited or full flexibility to their exchange rates before adopting a common currency.
BRITAIN faced economic turmoil on this day in 1992 when the Conservative government suspended Britain's membership of the European Exchange Rate Mechanism.
This was somewhat hypocritical as the "bust" they were referring to was Britain's exit from the European Exchange Rate Mechanism in September 1992, conveniently forgetting that it was Gordon Brown, when in opposition, who encouraged the Conservative Government to enter the mechanism in the first place.