In October 1990, under pressure from senior ministers and despite Margaret Thatcher's deep reservations, the United Kingdom joined the European Exchange Rate Mechanism (ERM), with the pound sterling pegged to the deutschmark.
In Octobre 1990, sub pressione dei seniori ministeri e malgré les profondes reservazioni di Margaret Thatcher, le Royaume-Uni a rejointe l'Europa Exchange Rate Mechanism (ERM), con la libro libro sempre ai deutschmark.