A double-edged shield
A new law tempts Italians to repatriate offshore money
ONLY 30 years ago, Italy's spalloni, or hired bagmen, did a flourishing trade in humping suitcases stuffed with Italian lire across the border into Switzerland. Italian newspapers even carried the rates of exchange for lire banknotes in the Swiss border town of Chiasso.
This article appeared in the Finance & economics section of the print edition under the headline “A double-edged shield”
From the March 23rd 2002 edition
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