Germany has benefitted greatly from the common currency, but it’s unclear whether voters in struggling countries such as Spain, Greece and Italy really want to remain in the Euro zone.
Thatcher was steadfast in her defense of the British currency, the pound sterling. In one of her final parliamentary appearances as P.M., she railed against those who aimed to give Brussels control over British fiscal policy. “What is the point of trying to get elected to Parliament only to hand over sterling and the powers of this House to Europe?” she asked. Staying out of the common currency has helped Britain avoid many of its problems over the years.
Thatcher’s question should echo on this side of the Atlantic, more than two decades later. “Congress has fallen into the habit of passing sprawling and vague laws, filled with arcane cross-references that most Members of Congress neither read nor understand,” Heritage warned in its new book America’s Opportunity for All. “This effectively turns lawmaking over to unaccountable staff and unelected bureaucrats.”
It raises the question Thatcher asked: Why run for office, just to hand off your power to unelected bureaucrats?
Today’s “leaders” are all too eager to pass off power and let someone else lead. That’s why most of them will be forgotten, while Thatcher and her guidance will be celebrated down through the ages.