“As a result of uncertainties caused by the French referendum, massive speculative flows have continued to disrupt the functioning of the exchange rate mechanism. As Chairman of Ecofin I have tonight called an urgent meeting of the EC's monetary committee to consider how stability might be restored to the markets over the next few days.
In the meantime the Government has decided that Britain's best interests would be best secured by suspending our membership of the ERM with immediate effect. As a result, the second of the two interest rate rises announced today will not take effect.”

— Norman Lamont

Larry Elliott, Will Hutton and Julie Wolf, " Pound drops out of ERM http://politics.guardian.co.uk/euro/story/0,,506405,00.html", The Guardian, 17 September 1992. <br class="br">Speech outside the Treasury on 'Black Wednesday' (16 September 1992) announcing the ERM withdrawal.

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Norman Lamont9

British politician 1942

Jo Cox (1974–2016) UK politician

Devolution and Growth Across Britain (19 June 2015)

“[Central banks might have to intervene to counter "perverse" or "grossly excessive" speculation. ] By such means, the monetary authorities can attempt to make the market for foreign exchange approximate toward what it would have been if there had been free competitive speculation with correct foresight of future movements. In this case all that the authorities have to do is to anticipate more correctly than private speculators the future course of exchange rates. And in so far as they do so they will make a profit at the expense of the private speculator.”

James Meade (1907–1995) British economist

James Meade (1951), The theory of international economic policy, Vol. 1, p. 224; as cited in: Peter B. Kenen (1994), Exchange Rates and the Monetary System, p. 74

“In recent weeks, we have taken bold steps to prevent a severe disruption of the American economy, which would have a devastating effect on other economies around the world. We've promoted stability in the markets by preventing the disorderly failure of major companies. The Federal Reserve has injected urgently needed liquidity into the system. And last week, I announced a decisive action by the federal government to address the root cause of much of the instability in our financial markets, by purchasing illiquid assets that are weighing down balance sheets and restricting the flow of credit. I can assure you that my administration and our Congress are working together to quickly pass legislation approving this strategy, and I'm confident we will act in the urgent time frame required.”

George W. Bush (1946) 43rd President of the United States

2000s, 2008, Address to the United Nations General Assembly (September 2008)

“All my adult life I have seen British governments driven off their virtuous pursuit of low inflation by market problems or political pressures. I was under no illusions when I took Britain into the ERM. I said at the time that membership was no soft option. The soft option, the devaluer's option, the inflationary option, that would in my opinion be a betrayal of Britain's future.”

John Major (1943) Former Prime Minister of the United Kingdom

Robin Oakley, "Major rejects devaluation as betrayal of the future", The Times, 11 September 1992.
Speech to the Scottish CBI, 10 September 1992, six days before Black Wednesday when the Pound was forced out of the ERM.
1990s, 1992

“I write to tender my irrevocable resignation as Chairman of the Senate Finance Committee on Finance and as co-chairman of the Joint Congressional Oversight Committee on Public Expenditures, effective immediately.”

Francis Escudero (1969) Filipino politician

2015, Letter to Senate President Franklin Drilon

“You have no idea how much the last few days have meant to me," I began. "Meeting you has been the best thing that's ever happened to me.”

Nicholas Sparks book Dear John

Source: Dear John

“Our jobs have moved overseas, Islamic terrorism has spread within our shores and an open border has crushed low-income workers and threatened our security. The issues we face here in America are similar to the issues faced in Britain during their referendum on membership in the EU. This is the movement known as Brexit”

Donald J. Trump (1946) 45th President of the United States of America

2010s, 2016, August, Speech in Jackson, Mississippi (August 24, 2016)

“Unilateral disarmament by Britain is opposed to our country's best interests, could begin the unravelling of NATO and therefore jeopardise the stability of Europe.”

James Callaghan (1912–2005) Prime Minister of the United Kingdom; 1976-1979

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“What was critical for the maintenance of pegged exchange rates, I argue in this book, was protection for governments from pressure to trade exchange rate stability for other goals.”

Barry Eichengreen Introduction

Source: Globalizing Capital (2008), Chapter 1. Introduction

“Britain's continuing membership of the Community would mean the end of Britain as a completely self-governing nation and the end of our democratically elected Parliament as the supreme law making body in the United Kingdom.”

Tony Benn (1925–2014) British Labour Party politician

Letter to Bristol constituents (29 December 1974), reprinted in Tony Benn, 'The Common Market: Loss of Self-Government', in M. Holmes (ed.), The Eurosceptical Reader (Springer, 2016), p. 38
1970s

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