Meryl Streep Channels Margaret Thatcher in 'The Iron Lady' Trailer

[caption id="attachment_63845" align="alignleft" width="220" caption="Weinstein Co."]Meryl Streep as Margaret Thatcher in "The Iron Lady"[/caption]

Look out, Oscar pundits. La Streep is on the warpath as Margaret Thatcher in this teaser for the upcoming film "The Iron Lady."

As some rather unhelpful aides suggest cosmetic changes to Thatcher -- lose the hat, your voice is too high, and the pearls are so yesterday -- the Prime Minister stops them in their tracks.

"The pearls, however, are absolutely non-negotiable!" she declares.

The first female PM of the U.K. ruffled many feathers during her tenure in office as a conservative who supported the Cold War and the Falklands War, among other rather controversial decisions. While it's still not clear whether or not this will be a favorable look at Thatcher's career, the project has certainly gotten people talking, both about its chance at an Oscar or two and its politics.

The now-disbanded U.K. Film Council ponied up one million pounds in funding for the flick, which has some people fretting it will be "some left-wing fantasy," according to The Guardian.

"The Iron Lady" reunites Streep with her "Mamma Mia!" director Phyllida Lloyd, who is known primarily for her work in theater. However "The Iron Lady" plays to audiences and critics and it's always good to see Streep do her thing on the big screen. And no matter what your take on the ABBA musical movie, it's refreshing to see a woman direct a film that's not about baby bumps and marriage and all that jazz.

"The Iron Lady" will be released in time for Oscar season by The Weinstein Company. Jim Broadbent, Roger Allam, Nicholas Farrell, Anthony Head (a.k.a. Giles from "Buffy"), Richard E. Grant, Olivia Colman and Alexandra Roach also appear in the film.

There's no word yet if Morrissey will contribute his infamous song "Margaret on the Guillotine" to the soundtrack, but our Magic 8 Ball points to probably not.