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To: Thomas M. who wrote (2435)	3/26/1999 1:18:00 PM
From: Alice Scandura	Read Replies (2) \| Respond to of 17683

One thing I haven't heard anywhere (may have missed) is the effect of the Euro on the "black" money in Europe. As it was called by a financial planner I was talking with, it's the cash economy that has gone on for years in Europe (est. 25% in Germany and The Netherlands and up to 60% of the economy in Italy she said). They are going to have to take this cash out of "mattresses" or where ever it is and turn it into Euros or it will be worthless by 2002 (I believe). Can't help wondering if some of that money is feeding our stock market. Apparently, according to my friend, many European banks and financial institutions need to know the origin of funds they receive. We are temporarily living in Europe and it is an interesting perspective for us.