How does the formidable Meryl Streep offset her It's Complicated cashmere? By becoming the Iron Lady of British politics. According to The Hollywood Reporter, Streep is in talks to play Margaret Thatcher in Thatcher, a film that would reunite her with Mamma Mia! director Phyllida Lloyd. Jim Broadbent is in talks to play Thatcher's husband, Denis.

Thatcher
sounds like it's cut out of the same sturdy tweed as The Queen, in that it's not going to attempt to examine the entire life and career of Thatcher, but analyze its subject through one point in history. In Thatcher's case, it will be the 17 days that preceded the Falklands War in 1982. Her popularity was low due to massive unemployment rates, and the Irish hunger strikes cast a harsh international light on her unyielding policies. Her handling of the Falklands War (a conflict of only 2 1/2 months) saw her ratings soar, and allowed her to win a second government.

There's no doubt Streep will go on to acclaim and awards nominations if she accepts the role. You know she'll even be able to do a pitch perfect accent. I'm genuinely curious how the film will tackle its subject, and what kind of an effect it has in Britain. Thatcher is an incredibly controversial figure -- some love her, just as many loathe her -- and any softening or sympathy will risk alienating those hit hardest by her policies. It's bound to be a grim watch, as recession era cinema should be. Audiences will long for cashmere, beef bourgenuoin, and Mamma Mia! romps.