I don't dispute that they picked the wrong price to defend. But, that's not what you said. You said they were not prepared to make the efforts to adjust, where other countries did.

I think you'll find little evidence to support that assertion over the timescale (12-18 months) that we are talking about. UK fiscal policies were tightened and recession was created. Some countries devalued and re-entered the ERM (e.g. Italy) where others did their adjusting inside the shelter of the Euro (Germany), which is a much different exchange rate issue.