ERM judged a prize turkey

The Exchange Rate Mechanism was judged Turkey of the Year - 'the most ridiculous flop of 1992' - at an annual charity luncheon yesterday sponsored by the British Turkey Federation. Joint runners-up were the BBC television series Eldorado and David Mellor, ahead of the female condom, Canary Wharf, the Maastricht treaty, Madonna, Expo '92, and Ross Perot.