Great Britain Opted Out of the ERM in 1992 Because

Multiple Choice

Great Britain opted out of the ERM in 1992 because its government concluded that:

A) it wanted to increase its trade with North America rather than Europe.
B) the gains from being a member of the ERM outweighed the costs from higher German interest rates.
C) the costs associated with higher German interest rates outweighed the gains from being a member of the ERM.
D) it was unable to agree with the French on an exchange rate between the pound and the French franc.