10.11.2017 - Studies

Will there be a "New Lira" in Italy as a parallel currency?

by Norbert F. Tofall

Already in March 2017, former Italian Prime Minister Silvio Berlusconi returned to the political stage with the demand that Italy introduce a state currency parallel to the euro.

After Berlusconi was able to win over his party Forza Italia and the Lega Nord for this demand, the five-star movement, which is even aiming for a referendum on Italy's continued membership of the euro, has also shown interest in state parallel currency concepts. The introduction of a state parallel currency is primarily aimed at increasing state expenditure through monetary state financing.

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