Chris Burford cburford at
Wed Jul 22 23:28:39 PDT 1998

At 11:03 PM 7/22/98 -0400, you wrote:
>Today's Financial Times has a piece on succession pressures facing the
>Mittelstand, Germany's small- and mid-sized businesses that the paper
>describes as "one of the anchors of the German 'social market' mode." This
>is expected to lead to a greater role for a "vibrant stock-market culture,"
>as these firms go public (and become avaiable to foreign investors too). No
>doubt European unification will intensify these trends, by promoting
>competition and promoting the development of U.S.-style financial markets.

Point taken. It is also compatible with the recent stategic announcement of closer cooperation between London and Frankfurt which in due course may allow Europe to challenge the overwhelming dominance of Wall Street. Or would you not agree Doug?

Chris Burford

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