It is 13 years since the UK was forced to abandon the Exchange Rate
Mechanism.

Our daily economics blog has a special feature on the ERM

http://www.tutor2u.net/newsmanager/templates/?a=628&z=1

The feature provides:
- A brief background on the ERM
- Explanation of the decision to devalue and leave the ERM
- Analysis of the UK's economic performance since 16th September 1992

If you have students taking any of the European economy-related
modules, it might be worth encouraging them to print this feature out
and add it to their notes.

Jim