🇬🇧United Kingdom · 90s
Black Wednesday
John Major won against the odds, the pound crashed out of the ERM, and Windsor Castle burned.
5 milestones of 1992
Britain was forced out of the European Exchange Rate Mechanism. Interest rates were raised to 15% in a single day. The Treasury spent £3.3 billion trying to prop up the pound. It was the most humiliating economic day since the IMF bailout.
John Major confounded the polls and won with a 21-seat majority. Kinnock resigned. The Sun claimed 'It's The Sun Wot Won It.' Major's soapbox campaign had worked.
A fire devastated Windsor Castle, destroying or damaging over 100 rooms. The Queen called 1992 her 'annus horribilis.' Charles and Diana's marriage was collapsing. The Royal Family's image was at its lowest.
John Major announced the formal separation of the Prince and Princess of Wales to Parliament. The fairy tale was officially over. Diana's Panorama interview would follow in 1995.
A massive IRA bomb devastated the Baltic Exchange in the City of London. 3 people died and £800 million of damage was caused. The IRA's economic warfare against the City was devastating.
Terrorism — honour victims
70% local · 30% international
Howards End
James Ivory — Anthony Hopkins and Emma Thompson. Merchant Ivory at their peak.
The Crying Game
Neil Jordan — Stephen Rea, Jaye Davidson. The twist nobody saw coming.
Basic Instinct
Paul Verhoeven — Sharon Stone's infamous leg crossing. Controversy and box office.
Wayne's World
Penelope Spheeris — Mike Myers and Dana Carvey. 'Party on, Wayne!' 'Party on, Garth!'
Reservoir Dogs
Quentin Tarantino — Tarantino arrived. 'Stuck in the Middle with You.' Cinema changed.
Absolutely Fabulous
1992-2012 — Jennifer Saunders and Joanna Lumley. Sweetie, darling. Fashion, wine, chaos.
Barcelona Olympics
Jul-Aug 1992 — Linford Christie won 100m gold. Sally Gunnell ran. Britain celebrated.
Between the Lines
1992-1994 — Neil Pearson as anti-corruption cop. BBC's sharpest police drama.
Eldorado
1992-1993 — BBC soap set in Spain. Famously awful. Cancelled fast.
The Crystal Maze
1990-1995 — Richard O'Brien in the maze. Game show perfection.
Currency: GBP
Inflation: 3.7%
Black Wednesday shattered economic confidence. Recession biting. Negative equity trapped homeowners.
Inflation-adjusted values
Text messaging
First SMS sent in the UK — 'Merry Christmas.' Texts were about to change communication.
Windows 3.1
Microsoft dominated the PC market. Graphical interfaces standard.
MiniDisc
Sony's MiniDisc launched — a format that never quite won.
Satellite TV
BSkyB expanding — multichannel television growing.
Mobile phones
Getting smaller and cheaper — no longer just for yuppies.
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