Subscribe via RSS Feed Connect on Google Plus Connect on Flickr

Margaret Thatcher predicted Yanis Varoufakis

Tuesday, 30 June, 2015

It is fashionable for liberal/leftist elites, including feminists, to hate Margaret Thatcher. She was all that they are not and because she refused to play the glass-ceiling game, they despised her. The most obvious recent example of their rage is The Assassination Of Margaret Thatcher by Hilary Mantel, which was published to much acclaim last year. Gleefully, the BBC adapted it for radio.

What they cannot deny, however, is that Margaret Thatcher understood the nightmare potential of the euro and she saved Great Britain from getting entangled in its snares by voicing her concerns. This led to the “five tests” devised, allegedly in the back of a taxi, by Gordon Brown and Ed Balls in 1997 that kept the UK out of the euro for good. In The Path To Power (1995), Mrs Thatcher revealed that she had been under constant pressure since 1990 to accept the proposed EMU (Economic and Monetary Union). She wanted no part of it; she foresaw the inflation and competitiveness dangers, she knew her history and she understood human nature. Referring to EMU, she said:

“Under this, Germany and France would end up paying all the regional subventions which the poorer countries would insist upon if they were going to lose their ability to compete on the basis of a currency that reflected their economic performance. I also thought that the Germans’ anxiety about the weakening of their anti-inflation policies, entailed by moves towards a single currency and away from the Deutschmark, could be exploited in negotiations.”

Sure enough, Germany will not accept greater inflation, poorer countries are insisting on bailouts and Yanis Varoufakis knows a thing or two about exploiting his counterparts in negotiations. Those dealing with the mess now might benefit from studying this snippet from a lecture Margaret Thatcher gave at Hillsdale College in 1994:

“Sir Edward Gibbon (1737-1794), author of The Decline and Fall of the Roman Empire, wrote tellingly of the collapse of Athens, which was the birthplace of democracy. He judged that, in the end, more than they wanted freedom, the Athenians wanted security. Yet they lost everything — security, comfort, and freedom. This was because they wanted not to give to society, but for society to give to them. The freedom they were seeking was freedom from responsibility. It is no wonder, then, that they ceased to be free.”

Margaret Thatcher


Comments are closed.