Margaret Thatcher was absolutely right

It is 20 years since Margaret Thatcher was removed from power in a leadership challenge instigated by Michael Heseltine and others.  It was a time when the Conservatives lost their nerve, having seen opinion poll ratings fall.  The issue which divided Conservatives, at the time, was the proposed single European currency.  Her successor, John Major was unable to unite the two wings of the Conservative Party despite winning the 1992 election.  The combined effect of the EMS crisis of 1992 and the splits in the Conservative Party over Europe led to a crushing defeat by New Labour in the 1997 election. 


Margaret ThatcherWriting in the Daily Telegraph
Peter Oborne revisits the warnings that Margaret gave during her term of office and which were recorded in her autobiography, first published in 1993. 


Today, Margaret Thatcher’s autobiography, first published in 1993, reads like a prophecy. It shows how deeply and with what extraordinary wisdom she had examined Delors’ proposals for the single currency. Her overriding objection was not ill-considered or xenophobic, as subsequent critics have repeatedly claimed.”

“They were economic. Right back in 1990, Mrs Thatcher foresaw with painful clarity the devastation it was bound to cause. Her autobiography records how she warned John Major, her euro-friendly chancellor of the exchequer, that the single currency could not accommodate both industrial powerhouses such as Germany and smaller countries such as Greece. Germany, forecast Thatcher, would be phobic about inflation, while the euro would prove fatal to the poorer countries because it would “devastate their inefficient economies

“It is as if, all those years ago, the British prime minister possessed a crystal ball that enabled her to foresee the catastrophic events of the past year or so in Ireland, Greece and Portugal. Indeed, it is one of the tragedies of European history that the world chose not to believe her. President Mitterrand of France and Chancellor Kohl of Germany dismissed her words of caution. And when Mrs Thatcher was driven from office in 1990, a crucial voice was lost, and a new consensus started to form in Britain in favour of the euro.”

Oborne also pays tribute to William Hague and Ian Duncan Smith, who maintained support for Mrs. Thatcher’s policy during a period of intense unpopularity for the Conservatives.  


Margaret Thatcher was hardly a popular figure in the Republic of Ireland.  In the 1980s, she was seen as an obstacle to Ireland’s interests.  I wonder how many now wished that their politicians had paid more heed to her warnings.


This entry was posted in Euro, Europe, Ian Duncan Smith, Northern Ireland Centre-Right, Republic of Ireland, William Hague and tagged , , , , , , , , , , . Bookmark the permalink.

19 Responses to Margaret Thatcher was absolutely right

  1. deirdre nelson says:

    Honestly, you had to take a break from blogging just as it all got interesting again, didn’t you?

  2. deirdre nelson says:

    You and me both Seymour. I agree with your suggestion about a sort of politics anonymous organisation, but can we get live web feed from the blogs? 🙂

  3. As an American woman and voter, I am a huge fan of the great lady, Margaret Thatcher, and I miss her voice along with the voice of our beloved Ronald Reagan. Two great and true voices have left the political arena in a time when they are more needed than ever. Too late the world sees their greatness.

    As far as I can see, there have been none to replace them in their candor and wisdom. Their love of country beyond self is rare in todays political arena as it was even in their time of office.

    I pray that out of the fray will come new voices for strong conservative leadership while there is still time to halt the damage being done.

    Thank you for this article.

    Alexandra Barrett

  4. A Corazon Abierto says:

    love her!

  5. “Two great and true voices have left the political arena in a time when they are more needed than ever. ” I so much agree. I only wish from myselfish perspective of Central European citizen, that she would be more fair in her judgement of Central European Republics. But these people are missed globally. Normality is missed. Now if one says any reasonable critisism of anything one immediately is called xenophobic. Such is this world.

  6. Eric D. Kim says:

    Hi, my publishing firm located in Seoul, South Korea called the Liberty Society ( is writing an article about Margaret Thatcher, and we need photos for the article. Id like to use the photo youve posted on this blog, but I need permission to do so. If you would be so kind, could we use this photo?

  7. Dave Smith. says:

    She was a truly foul woman (her friendship with Pinochet sort of gives it away). I left school during the height of her power… mass unemployment, communities in ruins, and no hope. Thankfully people fought back over the poll tax, and brought the “iron lady” crashing down!

    • mike fisher says:

      im with you, she was a bloody warmongerer with no time for the common man, i think “foul” says it all

  8. Z'beke kunene says:

    May the Lord comfort the Thatcher family, the British natives and the World at large for the loss of our legend, Margaret Thatcher. Rest in peace madam!

  9. sharon says:

    she made a country lose all respect for their elders what a joke

  10. sharon says:

    what legend mass unemployment country in ruins lol wake up and get in the real world and now bedroom tax what a joke

  11. may the lord our God comfort the farmily of Thatcher and the World at large for losing Our Legend

  12. Seymour Major says:

    I am not against anybody expressing their opinion, including disagreeing with what I say. However, I have exercised my right to remove some of the most extreme comments on this thread. Although I do not blog any more, I still expect commenting standards to be maintained.

    Margaret Thatcher was a divisive figure during her lifetime. Going by the amount of words poured out since her death she is likely to remain so beyond her living memory. However, I believe that historians who are much more likely to be ethical about the truth, will treat her much more kindly than most of her critics today.

    I will pick out one issue here which divides opinion – the Miners’ strike of 1984. Many people who criticise her conduct conveniently choose to ignore the circumstances facing the Government at the time of the strike. Pits had become uneconomic and were unsustainable in the medium term. The Union leader in charge of the miners, Arthur Scargill had his own agenda. That was to bring down the Government, as effectively had happened in 1974 at the end of Ted Heath’s administration. The welfare of the miners was not his particular concern. Had he acted properly, he would not have encouraged a strike and, instead, managed the well-being of his members in the face of the obvious terminal decline in the industry instead of treating them as political cannon fodder.

    If the miners had won that strike, the Government would have lost its authority, with all the appalling consequences that would follow. Mrs. Thatcher had no choice but to fight and the miners and win, whatever the price, in the best interests of the nation.
    People will continue to hate Margaret Thatcher for all sorts of reasons. In a funny sort of way, the hatred she attracts is one of her greatest tributes. After all, nobody likes their enemy after they have beaten them.

  13. james says:


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