The Thatcher EU Agreement: A Historical Perspective
The Margaret Thatcher EU Agreement, also known as the Fontainebleau Agreement, was signed in June 1984. This agreement was a significant moment in the history of the European Union (EU) as it marked a turning point in the relationship between the UK and the EU.
The agreement was reached following a dispute between the UK and other EU member states over the UK`s financial contributions to the EU budget. At the time, the UK was a net contributor to the EU budget, meaning that it paid more money into the EU than it received in return.
Thatcher`s government argued that this was unfair and that the UK should receive a rebate on its contributions. The other member states, however, were unwilling to grant the UK a rebate without significant reforms to the EU`s budgetary system.
After months of negotiations, the Thatcher EU Agreement was reached. This agreement granted the UK a rebate on its contributions, which was calculated based on the difference between what the UK paid into the EU budget and what it received in return.
The agreement also included a provision for a review of the EU`s budgetary system every five years, which would allow for further discussions and negotiations between member states.
The Thatcher EU Agreement was a significant moment in the history of the EU, as it marked a turning point in the relationship between the UK and the rest of the bloc. While the UK`s membership in the EU continued for another three decades, the agreement foreshadowed the UK`s eventual decision to leave the EU in the Brexit referendum of 2016.
Today, the Thatcher EU Agreement continues to be a topic of discussion within the EU, as member states continue to negotiate over budgetary contributions and the allocation of resources within the bloc.
Overall, despite its controversial nature, the Thatcher EU Agreement represented a significant moment in the history of the EU, and its legacy continues to be felt to this day.