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Black Wednesday
Black Wednesday, or the 1992 sterling crisis, was a financial crisis that occurred on 16 September 1992 when the UK Government was forced to withdraw sterling from the (first) European Exchange Rate Mechanism (ERMI), following a failed attempt to keep its exchange rate above the lower limit required for ERM participation. At that time, the United Kingdom held the Presidency of the Council of the European Union. The crisis damaged the credibility of the second Major ministry in handling of economic matters. The ruling Conservative Party suffered a landslide defeat five years later at the 1997 general election and did not return to power until 2010. The rebounding of the UK economy in the years following Black Wednesday has been attributed to the depreciation of sterling and the replacement of its currency tracking policy with an inflation targeting monetary stability policy. Prelude When the ERM was set up in 1979, the United Kingdom declined to join. This was a contr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
D GBPDEM 1992
D, or d, is the fourth letter of the Latin alphabet, used in the modern English alphabet, the alphabets of other western European languages and others worldwide. Its name in English is ''dee'' (pronounced ), plural ''dees''. History The Semitic letter Dāleth may have developed from the logogram for a fish or a door. There are many different Egyptian hieroglyphs that might have inspired this. In Semitic, Ancient Greek and Latin, the letter represented ; in the Etruscan alphabet the letter was archaic but still retained. The equivalent Greek letter is delta, Δ. The minuscule (lower-case) form of 'd' consists of a lower-story left bowl and a stem ascender. It most likely developed by gradual variations on the majuscule (capital) form 'D', and is now composed as a stem with a full lobe to the right. In handwriting, it was common to start the arc to the left of the vertical stroke, resulting in a serif at the top of the arc. This serif was extended while the rest of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
West Germany
West Germany was the common English name for the Federal Republic of Germany (FRG) from its formation on 23 May 1949 until German reunification, its reunification with East Germany on 3 October 1990. It is sometimes known as the Bonn Republic after its capital city of Bonn, or as the Second German Republic. During the Cold War, the western portion of Germany and the associated territory of West Berlin were parts of the Western Bloc. West Germany was formed as a political entity during the Allied occupation of Germany after World War II, established from 12 States of Germany, states formed in the three Allied zones of occupation held by the United States, the United Kingdom, and France. At the onset of the Cold War, Europe was divided between the Western and Eastern Bloc, Eastern blocs. Germany was divided into the two countries. Initially, West Germany claimed an exclusive mandate for all of Germany, representing itself as the sole democratically reorganised continuation of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
German Reunification
German reunification () was the process of re-establishing Germany as a single sovereign state, which began on 9 November 1989 and culminated on 3 October 1990 with the dissolution of the East Germany, German Democratic Republic and the integration of its re-established constituent federated states into the West Germany, Federal Republic of Germany to form Germany, present-day Germany. This date was chosen as the customary German Unity Day, and has thereafter been celebrated each year as a national day, national holiday. On the same date, East Berlin, East and West Berlin, West Berlin were also reunified into a single city, which eventually Decision on the Capital of Germany, became the capital of Germany. The East German government, controlled by the Socialist Unity Party of Germany (SED), started to falter on 2 May 1989, when the removal of Hungary's border fence with Austria opened a hole in the Iron Curtain. The border was still closely guarded, but the Pan-European Picn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Policy
Monetary policy is the policy adopted by the monetary authority of a nation to affect monetary and other financial conditions to accomplish broader objectives like high employment and price stability (normally interpreted as a low and stable rate of inflation). Further purposes of a monetary policy may be to contribute to economic stability or to maintain predictable exchange rates with other currencies. Today most central banks in developed countries conduct their monetary policy within an inflation targeting framework, whereas the monetary policies of most developing countries' central banks target some kind of a fixed exchange rate system. A third monetary policy strategy, targeting the money supply, was widely followed during the 1980s, but has diminished in popularity since then, though it is still the official strategy in a number of emerging economies. The tools of monetary policy vary from central bank to central bank, depending on the country's stage of development, inst ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Douglas Hurd
Douglas Richard Hurd, Baron Hurd of Westwell, (born 8 March 1930) is a British Conservative Party (UK), Conservative Party politician who served in the governments of Margaret Thatcher and John Major from 1979 to 1995. A career diplomat and political secretary to Prime Minister Edward Heath, Hurd first entered Parliament in February 1974 United Kingdom general election, February 1974 as MP for the Mid Oxfordshire constituency (Witney (UK Parliament constituency), Witney from 1983). His first government post was as Minister for Europe from 1979 to 1983 (being that office's inaugural holder) and he served in several Cabinet roles from 1984 onwards, including Secretary of State for Northern Ireland (1984–85), Home Secretary (1985–89) and Foreign Secretary (United Kingdom), Foreign Secretary (1989–95). He stood unsuccessfully for the 1990 Conservative Party leadership election, Conservative Party leadership in 1990, and retired from frontline politics during a Cabinet resh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Secretary (United Kingdom)
The secretary of state for foreign, commonwealth and development affairs, also known as the foreign secretary, is a Secretary of State (United Kingdom), secretary of state in the Government of the United Kingdom, Government of the United Kingdom, with responsibility for the Foreign, Commonwealth and Development Office. The role is seen as one of the most senior ministers in the UK Government and is a Great Office of State. The incumbent is a member of the Cabinet of the United Kingdom and National Security Council, and reports directly to the Prime Minister of the United Kingdom, prime minister. The officeholder works alongside the other Foreign, Commonwealth and Development Office#Ministers, Foreign Office ministers. The corresponding shadow minister is the Shadow Foreign Secretary. The Foreign Affairs Select Committee also evaluates the secretary of state's performance. The current foreign secretary is David Lammy. He was appointed by Prime Minister Keir Starmer on 5 July 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Major
Sir John Major (born 29 March 1943) is a British retired politician who served as Prime Minister of the United Kingdom and Leader of the Conservative Party (UK), Leader of the Conservative Party from 1990 to 1997. Following his defeat to Tony Blair's Labour Party (United Kingdom), Labour Party in the 1997 United Kingdom general election, 1997 general election, he became Leader of the Opposition (United Kingdom), Leader of the Opposition, serving in this role from May to June 1997. He previously held Cabinet of the United Kingdom, Cabinet positions under Margaret Thatcher, his last as Chancellor of the Exchequer from 1989 to 1990. Major was Member of Parliament (United Kingdom), Member of Parliament (MP) for Huntingdon (UK Parliament constituency), Huntingdon, formerly Huntingdonshire (UK Parliament constituency), Huntingdonshire, from 1979 to 2001. Since stepping down as an MP in 2001, Major has focused on writing and his business, sporting, and charity work, and has occasiona ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alan Walters
Sir Alan Arthur Walters (17 June 1926 – 3 January 2009) was a British economist who was best known as the Chief Economic Adviser to Prime Minister Margaret Thatcher from 1981 to 1983 and (after his return from the United States) again for five months in 1989. Early life Walters was born in Leicester. His father was a Communist and a grocer who sold goods from a van. He failed his 11-Plus and attended Alderman Newton's School in Leicester, leaving at fifteen to work as a machine operator in a shoe factory. During World War II, he was called up and joined the British Army as a private. Academic career Walters studied statistics at University College Leicester and then went to Nuffield College, Oxford, where he took an MA in economics. On leaving Nuffield in 1951, he took up a post to teach statistics at Birmingham University, later becoming professor of econometrics and statistics there in the early 1960s. He was one of the first British economists to argue that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Westminster Hour
''The Westminster Hour'' is a British political news review produced by BBC News, broadcast on BBC Radio 4 each Sunday evening between 22:00 and 23:00 (starting with a national and international news bulletin). The programme began to be broadcast in April 1998. Despite the reference in its title to the Palace of Westminster – meeting-place of the Houses of the United Kingdom Parliament – the programme also deals with topics and events connected with the work of the UK's devolved legislative assemblies in Belfast, Cardiff, Edinburgh, and London. Presenters Ben Wright, one of the BBC's political correspondents, is the current presenter of ''The Westminster Hour''. Previous hosts include Carolyn Quinn (a former presenter of Radio 4's ''Today'' programme) and Andrew Rawnsley (subsequently a columnist at ''The Observer ''The Observer'' is a British newspaper published on Sundays. First published in 1791, it is the world's oldest Sunday newspaper. In 1993 it was ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Margaret Thatcher
Margaret Hilda Thatcher, Baroness Thatcher (; 13 October 19258 April 2013), was a British stateswoman who served as Prime Minister of the United Kingdom from 1979 to 1990 and Leader of the Conservative Party (UK), Leader of the Conservative Party from 1975 to 1990. She was the List of prime ministers of the United Kingdom by length of tenure, longest-serving British prime minister of the 20th century and the first woman to hold the position. As prime minister, she implemented policies that came to be known as Thatcherism. A Soviet journalist dubbed her the "Iron Lady", a nickname that became associated with her uncompromising politics and leadership style. Thatcher studied chemistry at Somerville College, Oxford, and worked briefly as a research chemist before becoming a Barristers in England and Wales, barrister. She was List of MPs elected in the 1959 United Kingdom general election, elected Member of Parliament for Finchley (UK Parliament constituency), Finc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Weimar Republic
The Weimar Republic, officially known as the German Reich, was the German Reich, German state from 1918 to 1933, during which it was a constitutional republic for the first time in history; hence it is also referred to, and unofficially proclaimed itself, as the German Republic. The period's informal name is derived from the city of Weimar, which hosted the constituent assembly that established its government. In English, the republic was usually simply called "Germany", with "Weimar Republic" (a term introduced by Adolf Hitler in 1929) not commonly used until the 1930s. The Weimar Republic had a semi-presidential system. Toward the end of the First World War (1914–1918), Germany was exhausted and suing for peace, sued for peace in desperate circumstances. Awareness of imminent defeat sparked a German Revolution of 1918–1919, revolution, Abdication of Wilhelm II, the abdication of Kaiser Wilhelm II, the proclamation of the Weimar Republic on 9 November 1918, and formal cessa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deutsche Bundesbank
The Deutsche Bundesbank (, , colloquially Buba, sometimes alternatively abbreviated as BBk or DBB) is the National central bank (Eurosystem), national central bank for Germany within the Eurosystem. It was the German central bank from 1957 to 1998, issuing the Deutsche Mark (DM). It succeeded the Bank deutscher Länder, which had introduced the DM on 20 June 1948. The Bundesbank was the first central bank to be given full independence, leading this form of central bank to be referred to as the "Bundesbank model", as opposed, for instance, to the "New Zealand model", which has a goal (i.e. inflation target) set by the government. The Bundesbank was greatly respected for its control of inflation through the second half of the 20th century. This made the German Mark one of the most respected currencies, and the Bundesbank gained substantial indirect influence in many European countries. As of 2023, its balance sheet total was €2.516 trillion, making it the 4th largest central bank ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
