I dislike Thatcher, a lot. However she was ahead of the curve in 1990. This is a quote from her last speech in the House of Commons as PM:
“ [...] the point of that kind of Europe with a central bank is no democracy, taking powers away from every single Parliament, and having a single currency, a monetary policy and interest rates which take all political power away from us.”
> There are still parliaments in EU countries, they still debate and vote laws.
Greece cannot pass laws through parliament without Brussels approval. Italy, effectively need to stay in-line with the EU's program otherwise the EU aid will stop... so effectively these parliaments vote whatever they're told by Brussels to vote.
> Yeah, some matters are also discussed at the EU level. That's what happens when different entities make and join a club. They have to collaborate.
I don't see much collaboration happening tbh (energy, immigration, etc.). I could point articles but I think we have a completely different view on how's Europe actually governed right now.
The quote is technically wrong only in the "taking powers away from every single Parliament" part, as central banks are usually independent. As far as monetary policy goes, adopting euro is losing independence.
That might be a positive thing even just in the context of monetary policy, but that does not really make the quote incorrect.
“ [...] the point of that kind of Europe with a central bank is no democracy, taking powers away from every single Parliament, and having a single currency, a monetary policy and interest rates which take all political power away from us.”