Wednesday 2nd December 1981
Memo to PM on why work syndrome and effect on real wages
1.00 Lunch at Finance Houses Association - gave short talk - they complained about PRESENTATION
2.30 Treasury, GH [Sir Geoffrey Howe] and all on EMS [European Monetary System] - GH being edged towards it but most officials in Treasury still against it. Suspect that GH will not reduce interest rates - too wary? While they were discussing it, Natwest reduced Base Rate.
6.00 Cocktails at US Amb Residence
PM spent ½ hour looking out dolls for [sic: sentence incomplete]