There are significant differences between the American and European version of capitalism. The American traditiionally emphasizes the need for limited government, light regulations, low taxes and maximum labour-market flexibility. Its success has been shown above all in the ability to create new jobs, in which it is consistently more successful than Europe.

It will be years - not in my time - before a woman will become Prime Minister

It has been suggested by some people in this country that I and my government will be a "soft touch" in the [European] Community. In case such a rumour may have reached your ears, Mr Chancellor... it is only fair that I should advise you frankly to dismiss it (as my own colleagues did, long ago). We shall judge what British interests are and we shall be resolute in defending them.

What we should grasp, however, from the lessons of European history is that, first, there is nothing necessarily benevolent about programmes of European integration; second, the desire to achieve grand utopian plans often poses a grave threat to freedom; and third, European unity has been tried before, and the outcome was far from happy.

Political success is a good deal pleasanter than political failure, but it too brings its problems.

I am not immortal, but I've got a lot left in me yet.

Object to merit and distinction, and you're setting your face against quality, independence, originality, genius against all the richness and variety of life. When you hold back the successful, you penalize those who need help.