U.K.'s Norman Lamont Looks Back on 'Black Wednesday'

The transcript discusses the events surrounding Britain's exit from the ERM, highlighting the initial realization of the economic situation, the decision-making process to exit, and the broader European context. It emphasizes the impact on currency and reserves, and concludes with the long-term economic benefits, including reduced inflation and a competitive economy.

What was the most vivid memory the speaker had regarding interest rates?

What did the speaker compare the situation to when observing the currency's performance?

What was the speaker's perspective on Britain's experience compared to other countries?

What decision did the speaker urge regarding the UK's membership in the ERM?

How did the speaker describe the impact of leaving the ERM on the British economy?