Exchange Rate Mechanism. I was surprised the Durham Tories didn't get that.
They couldn't get who the Labour leader was for the 1992 GE either. One said "Is that too late for it be Foot" (and said 'Foot' with a sneer... although I might have projected that
)
The girl on the right (as we look at it) had that habit, when they were discussing possible answers, of reeling off a few guesses and then, when they get it wrong and the correct answer is read out, giving one of those exaggerated "Oh, of course!" self-scoldings, as if the fuck she knew it really.