An idea for a parallel currency resurfaces in Italy
Matteo Salvini says he wants to press ahead with “mini-BOTs”
GOVERNMENTS IN FISCAL distress sometimes find creative ways to pay the bills. Revolutionary France sold bonds secured against land confiscated from the Catholic church; America used paper bills to fund its war of independence. In 2001 Argentina issued IOUs, as did California in 2009. During Greece’s sovereign-debt crisis Yanis Varoufakis, then its finance minister, toyed with plans for a parallel currency.
This article appeared in the Finance & economics section of the print edition under the headline “Funny money”
Finance & economics June 29th 2019
- Russia is heaven for bondholders and hell for stockpickers
- An idea for a parallel currency resurfaces in Italy
- The Big Four may be blocked from doing Indian audits for years to come
- London’s reign as the world’s capital of capital is at risk
- The war on money-launderers’ vehicle of choice intensifies
- Another European fund manager runs into concerns over liquidity
- Displays dedicated to explaining economics offer marginal returns
- The global economy is on a knife-edge
From the June 29th 2019 edition
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