Economy: Alan Walters diary [dollar depreciates; market developments][released 2012]

Document type:	Declassified documents
Source:	Walters MSS (Churchill Archives Centre): WTRS3/1/2
Editorial comments:	Read other entries from this diary. View all Walters documents. The original diary can be studied here
Importance ranking:	Major
Word count:	133
Themes:	Employment, Monetary policy

Friday 23rd July 1982

Croft et al from D of I on Telecoms - all very preliminary

McKinnon - talked about his World Money Supply rule - likely to become another fixed exchange rate rule.

- but need to develop a system for Europe

Dollar depreciates against us and even more against DM - very good news

Tony Colby [Tony Coleby] stopped interest rates going down again today

“Market does not understand reductions on Friday”

Obscure signals of halting interest rate fall interpreted [word unclear]

Ken Couzens - about Export Credit Subsidies

I suggest we enlist NT’s [Norman Tebbit] support by showing that in terms of jobs it is probably £50,000 per job - much goes to foreigners, and so DESTRUCTIVE of employment

Covent Gdn - La Sonnambula

[24-25 July entries blank]