Very Early Margaret Thatcher Was Correct About Why The Euro Would Be Such A Big Problem

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.

This paragraph is from “The Path To Power,” where she discusses conversations with John Major (her successor) about negotiating with the rest of Europe. She just totally nails the inflation and competitiveness angles….

Read it all.