I did had 2 major distabilizing events as England.
One was when i had my inflation above 10. After that i had a gold rush and some other +3 inflation event. At that point i had the major "Your currency sucks really bad" event which basically said: "Oh i see you are struggling with inflation SO HERE IS +10 INFLATION AND -2 STABILITY TO HELP YOU". I couldn't even reduce inflation with admin points then, and all i had was -0.1 inflation. That meant tens of years of soaring prices which i could not afford to pay.
The second major event i had was a bit later in the game when a major revolt broke out right in the capital. At that point i had -1 stability and the even gave me a further -2 and a 45 regiment army right in the capital.
Needless to say they wreaked havoc on 1/4th of the island because it took time to gather up all available regiments i had on the entire globe to put down the rebellion (they wanted a republic IIRC). With -3 stability and the ongoing event (which ended when the rebel leader was killed) you can imagine the revolts that were going on EVERYWHERE. The rebel leader was killed just in time, before the country collapsed.
Had fun with those events tho.