Lady Margaret Thatcher was well-known throughout the free world for her fierce conservatism and her opposition to the “Evil Empire,” two noble qualities that separated her from the rest of her U.K. colleagues.
But did you know that she also had some frighteningly accurate economic predictions?
In her two autobiographies, "The Downing Street Years" and "The Path To Power," she wrote about how she planned to argue against the EMU (Economic and Monetary Union), the Telegraph’s Peter Oborne notes.
In her anti-EMU arguments, as Business Insider’s Joe Weisenthal and Rob Wile point out, Thatcher "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."
In short, Thatcher predicted the EU as it exists at this moment.
Here’s the paragraph from “The Path To Power” where she discusses inflation and competitiveness:
And here’s the paragraph from “Downing Street Years” where she repeats the prediction:
Frighteningly accurate, no?
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