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= Presentation on a Former Prime Minister (Sir John Major) =

== Short Introduction on John Major ==

=== Born ===
29 March 1943, St Helier, Carshalton, Surrey

=== Dates in office ===
1990 to 1997

=== Political party ===
Conservative

== How He Got the Post ==

=== Early Career ===

* 1974: Stood for Parliament twice in St Pancras, losing both times
* 1979: Won Huntingdonshire

=== Becoming a Minister ===

* 1981: Became a ministerial aide
* 1985: Became a minister
* 1987: Entered Cabinet as Chief Secretary to the Treasury
** Won the admiration and respect of his colleagues due to his ability to keep spending down
* 1989: Promoted to Foreign Secretary and Chancellor of the Exchequer soon after that.

* 1990: Thatcher unexpectedly announced her intention to resign.
** With Thatcher’s unofficial support, Major won a three-way contest for the party leadership
*** Consequently became PM on November 28, 1990

== How Often Did He Face a General Election ==

=== First General Election (1992) ===
Conservatives won, confirming his leadership.

== Did He Govern in Majorities, Minorities or Coalitions ==

== What Major Events Occurred ==

=== Black Wednesday ===

* September 16, 1992
* A collapse in the pound sterling forced Britain to withdraw from the European Exchange Rate Mechanism (ERM). 
* The U.K. was forced out of the ERM because it could not prevent the value of the pound from falling below the lower limit specified by the ERM.

==== European Exchange Rate Mechanism (ERM) ====

* Introduced in the late 1970s to stabilise European currencies.
* In preparation for the Economic and Monetary Union (EMU) and
* The introduction of the euro. 
* Countries seeking to replace their currency with the euro were required to keep the value of their currency within a specific range for several years
* How Did He Deal With Major Events

==== What happened ====

* The U.K. had been in the European ERM for two years. However, the pound was depreciating and falling close to the lower limits set by the ERM.
** The British government took steps to bolster the pound, including raising interest rates and authorizing the use of foreign currency reserves to purchase pounds.
* George Soros thought that the U.K. would ultimately fail in its attempts to prop up the pound.
** Soros quietly accumulated a large short position against the British currency. 
** Then began speaking publicly about his belief that the pound could not be defended. 
** Other speculators also started betting against the pound, while investors sought hedges against a collapse in the exchange rate.
* The day before Black Wednesday
** Soros' Quantum Fund began selling large amounts of pounds on the market
*** causing the price to plummet further. 
* Although the Bank of England took steps to stem the sell-off, it was unsuccessful. 
* On Black Wednesday, the Bank of England declared that the U.K. would leave the European ERM. 
* Because of Black Wednesday, George Soros is known for "breaking the Bank of England."

== Relationship with Cabinet (Notable Resignations and Reshuffles) ==

== How He Lost the Post ==

== Assessment of His Time as Prime Minister ==