The crunch and the cruise
Britain's no-nonsense Prime Minister Margaret Thatcher stopped by The Hague not long ago to call on her Dutch counterpart, Ruud Lubbers. As conversation turned to their mutual attempts to impose economic austerity, the Dutch Christian Democratic leader outlined his bold program of budgetary cutbacks. Thatcher reacted with feigned dismay. "Mr. Lubbers, are you really intending to cut the salaries of your public employees by more than 3%?" she demanded. "That's a disaster. I am supposed to be the toughest in Europe. You are going to ruin my reputation as the Iron Lady."
After little more than...
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