LONDON  - Meryl Streep, whose portrayal of former British prime minister Margaret Thatcher in “The Iron Lady” is tipped for an Oscar, takes to the red carpet Wednesday for the film’s European premiere in London.

Streep’s performance as the grocer’s daughter who changed the face of Britain has earned her a Golden Globe nomination, putting her in line to win the third Oscar of her career next month. The film has already opened in Australia and the United States, but its premiere at the BFI Southbank along the Thames from the Houses of Parliament which Thatcher dominated for more than a decade, has special resonance. Few of Thatcher’s cabinet colleagues or rivals have seen the film, which only opens in Britain on Friday, yet many who have say Streep has captured the essence of the woman whose legacy is still the subject of intense debate.

Charles Moore, who is writing Thatcher’s authorised biography, said: “She captures the intense, uneasy, passionate woman rising to greatness, the Gloriana figure at the height of her power, and the rather touching old lady known to her intimates as ‘Lady T’.”