In September 1992 Italy was forced out of the European Exchange Rate Mechanism, a pre-euro system of semi-pegged currencies.

1992年9月，意大利被迫脱离欧洲汇率的半挂钩机制。

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Without such a federation, can the single currency survive, I asked Helmut Schlesinger, another influential central banker who has seen the odd financial crisis at close quarters and was president of the Bundesbank when sterling was forced out of the European Exchange Rate Mechanism in 1992.

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Hedge funds have come under heavy fire since George Soros forced sterling out of Europe's exchange-rate mechanism in 1992.

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Sterling was in crisis and Norman Lamont was forced to announce a humiliating withdrawal from the European Exchange Rate Mechanism.

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