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  You do make a good point about the ERM Keith. But there are some significant points that you may have forgotten...
  
  1/ She fought a long battle against Lawson and others over ERM membership. She, as advised by Alan Waters, was against it and predicted a disaster. The problem was that up against her were the whole British establishment including most of the media, the Unions, all the political parties including Labour, the CBI etc etc. Even she had to cave in when Major was Chancellor it was a very public battle at the time. To blame her for the ERM disaster is unfair.
  
  2/ We learned from that mistake and that is a major reason we are not lumbered with the Euro, a tough lesson but one needed to be learnt even if the Eurofanatics have not done so.
  
  Maastrict was the other big mistake of course but that was under Major not her.

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