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]