Italian Currency

Discussion in 'Forex' started by dealmaker, Jun 5, 2019.

  1. dealmaker

    dealmaker

    Italian Currency

    The Italian parliament last week endorsed the idea of introducing a new domestic sort-of-currency with which to pay off the country's debts, and possibly pull Italy out of the Eurozone. Citizens would also be able to use the new "mini-bills of Treasury" to pay their taxes. As this Financial Times explainer notes, the idea is still relatively light on details, but worth paying attention to. FT
     
  2. It's only fluff... In Italy, there are many political problem after the European vote. Minister Matteo Salvini would like to become the leader of European populism movement.

    To do this, he needs to provoke the establishment.

    Italy can't exit from Eurozone.

    My 2 cents
     
    AKUMATOTENSHI, Andras and dealmaker like this.
  3. Andras

    Andras

    I agree with the last post. Italy cannot exit Eurozone because they are not ready for it. Other factors at play.
     
  4. I found an article which says that the Italian government in early 2018 included the idea of issuing these mini payments through the Treasury to settle the late payments of the administration with the suppliers, warned that the so-called mini-BOT , could become a currency parallel to the euro and a way to skip the limitations of spending and debt imposed by Brussels.
     
  5. Sekiyo

    Sekiyo

    Italy actually exports more than it imports.
    They would gain from a currency devaluation.
     
  6. I'm curious whether this idea will ever come to any fruition.