The Iron Lady Vs. The Euro


 

Since the Euro has occupied center stage with its impending collapse I thought it important to recognize a true visionary leader who saw the Euro for what it was and battled to keep her country from joining it at the cost of her own political career.  Margaret Thatcher, often referred to as the Iron Lady for her tough policy stances on critical issues, valiantly stood up for her country’s sovereignty by resisting the Euro when everyone else in Europe was bound and determined to join the single currency.  She argued that poorer countries like Greece could never share the same currency with an economic juggernaut like Germany because of their inability to compete with Germany if not allowed the flexibility of their own currency.  She also mentioned the German’s fear of inflation and how that would influence all decisions about the Euro.  The author of one of the articles I had read about her made the comment that it was almost like she had a crystal ball in forecasting the eventual disastrous outcome that awaited any country that signed up for the Euro.  In 1990 after going to a European summit that discussed making the Euro a reality she laid out her anti-Euro policy.  After returning home to Britain she lost a power struggle within her own party in part because she was not pro-Euro.  Even after being out of office for almost a decade in 2001 she took up the fight against the Euro in a speech to her former party.  Now over 20 years later after she began her fight against the Euro events of today have vindicated her and history will judge her as one of people who saved Britain from the disaster that is the Euro.

I would never give up the pound, declares Thatcher

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