"There are going to be no devaluations, no leaving the ERM. We are absolutely committed to the ERM. It is at the centre of our policy. We are going to maintain sterling's parity and we will do whatever is necessary, and I hope there is no doubt about that at all."
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Members of the Parliament of the United KingdomUniversity of Cambridge alumniGovernment ministersConservative Party (UK) politiciansPoliticians from Scotland
Original Language: English
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Statement on the morning of 26 August 1992, at the start of the economic problems which eventually produced Black Wednesday.
https://en.wikiquote.org/wiki/Norman_Lamont
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Norman Lamont
Norman Stewart Hughson Lamont, Baron Lamont of Lerwick PC (born 8 May 1942) is a British Conservative politician who was Chancellor of the Exchequer in the government of John Major from 1990 to 1993. His term of office was not a happy one as the United Kingdom was in a recession, and it included the embarrassment of Black Wednesday on 16 September 1992 when the Pound Sterling was forced out of the exchange rate mechanism. After Lamont was dismissed in May 1993 he made clear his personal dislike
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