60. Memorandum From the Special Representative for Economic Summits (Owen) to President Carter 1
- Letter from Chancellor Schmidt
Attached is a letter to you from Chancellor Schmidt and an attachment, which describe the new German economic program and indicate that it was taken to fulfill Summit commitments. (Tab B)2
I also attach a brief Treasury evaluation of the German program, which suggests that it will result in growth of about 4% next year, as contrasted with 3.5–4% this year. (Tab C)3 German officials expect somewhat better results. The German Summit growth target was 4.5%–5%.
We should compliment Schmidt, without implying that we believe he has fully met the need, since other measures may well be needed. I attach a proposed letter in this sense. (Tab A) It has been cleared with State (Dick Cooper) and Treasury (Tony Solomon).
- Source: Carter Library, National Security Affairs, Brzezinski Material, Brzezinski Office File, Country Chron File, Box 13, Germany F R: 7–9/77. No classification marking. Sent for action.↩
- Tab B, attached but not printed, is a courtesy translation of an undated letter from Schmidt to Carter, as well as a translation of a September 14 paper entitled “Decisions of the Federal Government to promote economic growth and employment.”↩
- Tab C, attached but not printed, is an undated paper entitled “German Program for Stimulating the Economy.”↩
- No classification marking.↩
- See Document 59.↩