"Mr Alan Beith (Berwick-upon-Tweed): Will the Prime Minister tell us whether she intends to continue her personal fight against a single currency and an independent central bank when she leaves office?
Mr. Dennis Skinner (Bolsover): No. She is going to be the governor. [Laughter.]
The Prime Minister: What a good idea. I had not thought of that. But if I were, there would be no European central bank accountable to no one, least of all national Parliaments. 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. As my right hon. Friend the Member for Blaby (Mr. Lawson ) said in his first speech after the proposal for a single currency was made, a single currency is about the politics of Europe, it is about a federal Europe by the back door. So I shall consider the proposal of the hon. Member for Bolsover (Mr. Skinner ). Now where were we? I am enjoying this."
Mr. Michael Carttiss (Great Yarmouth): "Cancel it. You can wipe the floor with these people."
The Prime Minister: "Yes, indeed—I was talking about Europe and the socialist ideal of Europe. Not for us the corporatism, socialism and central control. We leave those to the Opposition. Ours is a larger vision of a Community whose member states co-operate with one another more and more closely to the benefit of all.
Are we then to be censured for standing up for a free and open Britain in a free and open Europe? No. Our policies are in tune with the deepest instincts of the British people. We shall win the censure motion, so we shall not be censured for what is thoroughly right."
"HC S: [Confidence in Her Majesty's Government]"
22.11.1990, Margaret Thatcher, House of Commons Speech, Margaret Thatcher Foundation