Economic Developments: Short and Long Term Impacts of Black Wednesday Flashcards
1
Q
What year did it show that the economy had fully recovered by?
A
1997
2
Q
What happened to the housing market after leaving the ERM?
A
It started to recover
3
Q
What happened to the balance of payments deficit after leaving the ERM?
A
It came down
4
Q
What would have happened to economic recovery from Black Wednesday if Britain had stayed in the ERM?
A
It would have been slower
5
Q
Why would recovery from Black Wednesday and still being in the ERM have been slower?
A
Because they were tied to the German currency
6
Q
What issue was Germany going through in 1992?
A
The costs of reunification of Germany
7
Q
How was negative equity housing on a large scale seen by 1997?
A
It was seen as a thing of the past
