Wednesday 27th October 1982
MS [Michael Scholar] said PM liked my pieces on protectionism
- only reservation was using IDA for pressure on India
Lunch with US correspondents - very patchy lot especially new Wash Post man + Newsweek Chap - wanted to know when there will be an election, what is in her mind etc.
Lord Lloyd - about free trade in technology - put him on to Helen Wallis
Ralph H [Ralph Harris] + Harvey Jones (ICI) on exchange rates
- he can manage if DM 4.00=£1 but not at 4.3 - I made sense to him with expl of low DM.
Dinner at B/E Gvr [Gordon Richardson] + Gvr of Netherlands CB.
Argued powerfully against fiscal monetary stimulus
- man from Mars, large investment in labour
Saving tech + 3.3mn unemployed
Eddie George - tells me he does not agree with many in B/E who see the job as expanding demand increasing output etc. B/E should be primarily the Guardian of the currency.