ABSTRACT
Margaret Thatcher proved to be the ultimate conviction politician, with her views about Britain's foreign and domestic policy being shaped by her personal leadership. The 1980s were marked by a greater emphasis on industries of the service economy, like finance, insurance and leisure. This strategy was part of an effort to increase the competitiveness of the British economy and rid it of out-of-date industrial practices that the government believed was primarily responsible for the economic malaise that engulfed the nation. The resolution of the budget issue provided an opportunity for the Community to address other issues. Prime Minister Thatcher particularly emphasised the significance of the objective of completing the internal market by 1992 and the fact that it formally included the European Political Cooperation procedure within the Community. The publication of the Delors Report was problematic for Britain because it marked its isolation from debates on monetary union, given that it was not even part of the Exchange Rate Mechanism.
