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Italy’s ruling lawmakers are pushing an amendment declaring the Bank of Italy’s $300 billion gold reserves state property, despite concerns it may breach EU rules. The move revives long standing political interest in using the gold to ease public debt. Italy will seek opinions from the Bank of Ital
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Italy’s ruling lawmakers are pushing an amendment declaring the Bank of Italy’s $300 billion gold reserves state property, despite concerns it may breach EU rules. The move revives long standing political interest in using the gold to ease public debt. Italy will seek opinions from the Bank of Italy and the ECB, which has previously warned that limiting central bank autonomy over gold would violate EU treaties. For in-depth analysis and a deeper perspective, François Picard welcomes Salvatore Rossi, Italian Economist and former General Director of the Bank of Italy.