This book examines the UK prime minister¿s political leadership in the domestic executive. By offering a comparative study of the political leadership of James Callaghan, Margaret Thatcher, John Major and Tony Blair with regard to European monetary policy, it challenges the thesis that British prime ministers today have more power, resources and autonomy than their predecessors, giving them a greater capacity to act. Taking key European monetary policy decisions by the British government between 1976 and 2007 as empirical cases, the book assesses the extent to which the political leadership of each prime minister was affected by the cabinet, the parliamentary party as well as the