Margaret Thatcher

Margaret Thatcher Predicted Euro Crisis

Knew weaker nations would come calling on Germany


Margaret Thatcher was an incredibly polarizing figure, but everyone should be able to agree that she was absolutely spot on about why the Euro would be such a disaster.

As Peter Osborne argued in the Telegraph In 2010, Thatcher's two autobiographies, "The Downing Street Years" (1993) and "The Path To Power" (1995) discussed the tactics she would use to argue against the EMU (Economic and Monetary Union), which she wanted no part of.

Basically, she outlined the problems with the euro perfectly, that Germany would chafe at the inevitable need for greater inflation, and that the poorer countries would inevitably be uncompetitive and need bailouts that would not easily be forthcoming.

(Hat tip to Reason commenter John)