Black Wednesday...'? ...when it wasn't actually that bad? Economists have put the cost of Black Wednesday to the British economy as being in the region of £3.3Bn which is nothing really when compared against the cost of Labour's 2 week jamboree planned for 2012. They also agree that Black Wednesday was necessary to bring sterling interest rates back down to a sustainable level and the long-term effects on the economy where beneficial for everyone. So why do Labourites keep holding up 'Black Wednesday' as some sort of bogey-man? Is it because they haven't got a clue about how the economy works?