Word: thatcherism
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...more reason for Europeans to ponder the implications of Britain's sudden entry -- at long last -- into the European Monetary System's exchange control mechanism. Prime Minister Margaret Thatcher, who had opposed the EMS from the beginning as an infringement on national sovereignty, was tacitly acknowledging her need to belong -- and her fear of losing influence over decisions in an E.C. in which the center of political gravity is shifting toward the newly united Germany. At the same time, however, Thatcher brought with her a philosophical challenge to the wider project, that of creating a common currency and central bank...
Delors has some grounds for worry. Karl Otto Pohl, the powerful president of Germany's central bank, last month expressed some sympathy for Thatcher's economic positions. Said Pohl: "More than a single currency, the emerging single European market needs converging economic policies, which are not yet in place." Like Thatcher, Pohl was asking how the E.C. can have a common currency when inflation rates range from a low of 3.1% in Germany and Denmark to 10.9% in Britain and 21% in Greece...
...play the Lone Ranger. This Bush is also the Great Schmoozer. He prefers consensus to confrontation. He not only values his relationships with foreign leaders but actually listens to them. Most are counseling patience. An aide says that the President has been especially impressed by the cautions of Margaret Thatcher, the Iron Lady of the Falklands. She believes the embargo should be given more of a chance...
...Bonn's partners in the E.C. and NATO, Prime Minister Margaret Thatcher, is the head of Britain's bothered-about-Germany group, which includes politicians like former Trade Minister Nicholas Ridley and a tabloid- fed, anti-German segment of the public. "Their specific fears are hard to pin down," says Adrian Hyde-Price, a specialist on Germany at Southampton University. "It's not about Germans pulling on their jackboots and marching into Poland. It's fear about a tendency toward neutralism, and that with its enormous economic power, Germany will assert itself and be less willing to defer...
...feels like the Falklands. During the weeks it took London's strike force to reach the South Atlantic in 1982, a flurry of diplomatic activity failed to avert war. Like George Bush in the current crisis, Britain's Margaret Thatcher refused to reward Argentina's aggression with a face-saving compromise, and Argentine President Leopoldo Galtieri compounded his original miscalculation by insisting that "the British won't fight...