Merkel Is Cast as Thatcher’s Austerity Goddess
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May 3 (Bloomberg) -- Three decades ago, U.K. Prime MinisterMargaret Thatcher was confronted with a nation bordering onirrelevance, a stagnant economy and a set of entrenched beliefsabout the relationship between government and the people.
Thatcher faced down striking coal miners and forced througha series of free-market reforms that unshackled Britain’seconomy and made it vibrant once again. To the chorus ofaccusations that she was killing the economy, she replied:“There is no alternative.”