Margaret Thatcher’s concerns in 1990 about the European Community’s moves towards a common currency were published recently under the 30-year rule. The former British prime minister didn’t think the euro was a good idea. Fear of deflation has been a bigger problem for the euro than concerns about inflation. Concerns that a monetary union could not function without the support of a parallel fiscal union have not stopped the common currency operating for two decades. The euro area survived the destabilising consequences

Source: The Times January 10, 2021 00:04 UTC