Question #6a2d9

Margaret Thatcher became British Prime Minister in 1979 until her resignation in 1990(she was reelected twice). She had become the leader of the Conservative Party in 1975 and that party won in 1979 against the Labour Party led by James Callaghan.

Margaret Thatcher was known for her being tough(she was nicknamed the "Iron Lady", she applied the the remedies of the Neo-Liberal schools of economics to solve the crisis the UK had sunk into.

The UK in the seventies had experienced the most severe crisis in its history since the thirties. Unemployment and inflation were combined in a phenomenon known as stagflation. The Trade Unions were paralyzing the country, the climax being the winter of discontent that preceded her election.

To pursue her objective to end socialism, she privatized massively all the companies which had been nationalized by the Labour Governments since 1945, she closed the unproductive pits in the mining industry and she favored deregulations in the financial sector.

On the international scales, she partnered with Ronald Reagan with whom she shared a strong anti-communist leaning. They both had similar poisitions on the economy, the Soviet Union and communism.