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July 19, 1981
Air Force One to Ottawa & then Marine One to Montebello—the largest log cabin [in] the world. The hotel is a marvelous piece of engineering, totally made up of logs. Had a one on one with Chancellor Schmidt. He was really down & in a pessimistic mood about the world Following—met with Pres. Mitterrand—explained our ec. program & that high interest rates were not of our doing. Dinner that night was just the 8 of us. The 7 heads of State & the Pres. (Thorn) of the European Community. It became a really free wheeling discussion of ec. issues, trade etc. due largely to a suggestion by P.M. Thatcher.