Streets, squares and other public venues get named after famous people and events all the time.
But it's a bit odd to discover that there's a square in the centre of Madrid bearing the name of Margaret Thatcher.
It's bizarre, but it's true:
Apparently the square was named after Thatcher last year.
I've no idea why Madrid would do this, but apparently it's a weird reflection of their internal politics:
José María Aznar, a former prime minister and the man who chose Rajoy as his successor, a decision he has let it be known he now regrets. And Ana Botella, the mayor of Madrid who made the decision to honour Thatcher in the street map, just happens to be Aznar’s wife. Just to eradicate any doubt whether Plaza Margaret Thatcher might be a message, the square is situated only a few hundred metres down the street from the People’s party HQ, as if pointing in the direction the party should be heading (source)
Ironically the square is right beside Plaza de Colón (the Spanish for Columbus):