Question

why the European exchange rate mechanism (ERM) ran into problems in the 1990s

Answer 1

STEP-STEP EXPLANATION

In 1999, ERM II replaced the original ERM. The Greek and Danish currencies were part of the new mechanism, but when Greece joined the euro in 2001, the Danish krone was left at that time as the

ANSWER

LIKH APNE SE ITNA PADHA DIYA

Answer 2

Black Wednesday refers to September 16, 1990, when a collapse in the pound sterling forced Britain to withdraw from the European Exchange Rate Mechanism (ERM). The U.K. was forced out of the ERM because it could not prevent the value of the pound from falling below the lower limit specified by the ERM

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