International records / Foreign Relations of the United States

112. Memorandum of Conversation

because it would look like they were forced to. The President: That’s why I asked you to come in quietly. I want to have no confrontation, and that is why this meeting is private. You say a delay or no increase is out of the question. Start with the Nigerian 40 percent. That would be catastrophic. Zahedi : Most of them are talking of 20–25 percent. The President: That would also be catastrophic. Alan, maybe you can address it in more detail. Greenspan : I think it is a fact that the world has not yet adjusted to the earlier increase. See footnote 4, Document 82 . The early very sharp increase …