European Stars And Stripes (Newspaper) - July 11, 1986, Darmstadt, Hesse                                Crash diet for the bloated italian lira by Paula Butturini United press International Taly plans to lose a Lew million millionaires next year. That won t be much of a loss in a country where All it takes to be a millionaire is about $640. Alice nearly a Quarter Century of Hemming and hawing the government finally has decided the time is right to put the blog cd italian currency the lira on a Cash diet ii s about Lime in a country where a single scoop ice Cream Cone costs 1,000 currency units a cab costs 2,800 for simply turning on the meter an average dinner for two eats up 50.000 currency units and you be got to be a millionaire to real an apartment 2 million lire a month is not uncommon. The five party coalition government of socialist prime minister Bettino Praxi has voted to create a lira Nova new lira by sinking three zeros off the old play Money currency. The proposal would not change the value of the lira in relation to the Dollar or other currencies. It simply would mean that the current t .000 lire banknote Worth about 64 cells would be Worth 1 new lira. Similarly the 5.000,10,000,50,000 and 100 000 lire notes would be Worth respectively 5.10,50 and 100 new lire. The draft legislation also would introduce  similar to . Cells for amounts less than the 1-lira note if parliament goes along with the idea As expected. Europe s last version of monopoly Money will be phased out Starling next Spring. The government argues that the change will have far reaching psychological effects helping prove both Al Home and abroad thai Italy s once rampant double digit inflation Rale has been licked. The Praxi government which took office with the inflation rate hovering at 20 percent has reduced inflation to 6 percent during the last three years. Treasury minister Giovanni Goria said the plan would Correct the defects of a counting system that is no longer usable especially in International dealings made too complicated by the excessive presence of  nowadays measurements of italian currency in the trillions is commonplace. Calculators and computers simply run out of zeros. The government plan also would create three new banknotes of larger denominations 200,500 and 1,000 new lire notes equal to the equivalent of 200.000. 500,000 and 1 million old lire Bills Italy s biggest banknote now is the 100,000 lire Bill Worth $64. Goria Hopes to avoid some of the confusion that accompanied a similar currency change in France in 1960, when the government of Charles de Gaulle decided to lop two zeros off the old French franc. But officials know that despite their plans chaos is bound to reign for some months. To combat confusion the Treasury has no plans to change the look of the new Bills a 1 new lira Bill will be the if the legislature goes along As expected Italy monopoly Money but be phased out starting next Tpring. Up Pitolo same color and size As the old 1,000 lire Bill and carry the same picture of Marco Polo. The Only difference will be the missing zeros and the addition of the words lira Nova after the numeral. Both old and hew lire banknotes and coins will be kept in circulation at the beginning of the changeover. The Treasury will gradually collect the old Bills. The draft legislation already approved by the Praxi Cabinet does not require prices to be posted in both old and new lire amounts but Treasury officials said such a requirement undoubtedly would be approved before the changeover. Therapy for compulsive spenders new York times and Gostin. A 48-year-old divorced Mother of two is an addict her addiction is not drugs gambling or alcohol but spending i like to nurture myself she said. I wrote bad checks borrowed Money from friends and family and lied to creditors to support my  in 1983 she was sentenced to a year in prison in California after embezzling Money from a former employer to cover her spending habit. In jail i realized i was an addict but the Only difference was the substance i abused Gostin said. As a result she founded and now directs spender mender a self help organization for compulsive spenders with Headquarters in san Francisco. Psychiatrists psychoanalysts and budget Counselor say Gostin is one of millions of americans who shop obsessively out of boredom anxiety anger Joy or fear of being Hurt. It s a compulsive disorder it s a syndrome much like gambling and alcoholism said Janet Damon a Brooklyn psychotherapist who specializes in compulsive disorders. It s a buildup of anxiety that needs to be  Damon said most people who shop excessively Are trying to build self esteem. They feel compelled to go shopping and while shopping they experience a euphoria she said. Afterwards they feel anxiety guilt shame and self recrimination because they were out of control and it becomes a  compulsive spenders she said Are trying to obtain Power through purchases. Shopping gives them a false sense of Power Damon said. They generally feel impotent in other aspects of their  compulsive spenders tend to be Bright Well educated upwardly Mobile Young adults and men Are just As Likely to overspend As women experts said. Karen a., a new York Secretary said her lunchtime shopping binges Range from $30 drugstore purchases to $400 for clothing. She said Many of her purchases Are still in boxes and her closets Are filled with unworn clothes and shoes. I shop to make myself feel better she said. I know i should t and i feel guilty afterwards but i Don t know Why i continue to do  Paul Eberts a credit Counselor in Columbus Ohio said his office is seeing More people who Are unable to control their spending because of the convenience of credit cards. While no figures exist on debt run up by compulsive spenders the Federal Reserve Board says that credit card debt Rose Between March and april by $4.1 billion to $555 billion. Compulsive spending will get worse Eberts predicted we have a whole generation that has been brought up in a credit card society. They grew up with debt and use it  Gostin said that when she was released from the Cali  institution for women she wrote to groups that help drug addicts and alcoholics As Well As to people in the financial world to ask if they addressed the needs of spending addicts. Unable to find help through these sources she formed spender menders in 1984, after a Public service announcement on a radio station in the san Francisco Bay area Drew hundreds of responses from individuals with a similar problem. She said the organization now has several thousand members. While few programs exist to help compulsive spenders such programs Are being formed around the country. Through group sessions organizations such As spender mender and debtors Anonymous founded a decade ago encourage the Over spender to recognize the illness and learn practical ways to control it. The Over spender is encouraged to maintain a strict budget tear up credit cards or leave them at Home when shopping and for those in serious trouble to file for bankruptcy. Mark Robertson director of credit counselling service a nonprofit organization in new Vork City said 99 percent of the people who seek help spend More than they earn and use credit to sustain their habits. It s a habit that is built up Over time and it s a difficult one to break Robertson said. Damon who is forming shopaholics limited a self help group for Over spenders in Brooklyn said the danger signals for serious compulsive spenders include a feeling of a Lack of control chaotic finances and the expenditure of much time juggling accounts and Bill payments to sustain shopping binges. Everybody laughs Al it Damon said but then everyone used to laugh at the town  Page 16 the stars and stripes