Italy’s ruling lawmakers are pushing an amendment to declare the Bank of Italy the state’s $300 billion in gold reserves, despite concerns it could breach EU rules. The move revives long-standing political interest in using gold to ease public debt. Italy will seek an opinion from the Bank of Italy and the ECB, which have previously warned that limiting the central bank’s autonomy over gold would breach EU agreements. For an in-depth analysis and deeper perspective, François Picard welcomes Salvatore Rossi, Italian economist and former CEO of the Bank of Italy.
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