PREVIEW

... of the British pound in 1992.

“It’s fine. Unlike those damn Brits, the French economy is solid.”

At first, they made such bold claims, raising interest rates and releasing capital to defend the value of the franc.

To a certain extent, they were right. Hedge funds that half-heartedly threw short-sells just to test the waters ended up bleeding and pulled back.

Great France, unlike Britain, seemed to be doing fine. They were neighbors soon to become one community und ...

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