Is Merkel paradigm an upgraded Thatcherism?
Recent articles in British and International press try to account for Thatcher legacy for the U.K. and the World. Policies that combine pro-globalization measures as that the boosted the City in the early 80ies and of National interest inspire journalists and commentators. Martin Wolf is critical to the legacy of the model introduced by Thatcher today but praises her assertiveness in that significant turn in her country’s history. Albeit the spectacular growth the U.K. achieved as a financial center the model is far from being exempt from today’s crisis since it represents an outdated and not sustainable model. In a remarkably incisive comment he states “A company such as Rolls-Royce could hardly be created today. That is not what the City would dare to support.” The second industrial revolution should always refer to the first so that one can recognize that “made in England” was an invaluable brand. Is Merkel equally conservative paradigm supporting its most traditional industries more efficient?