Joseph Stiglitz, the Nobel Prize winner for economics, has recently written an article titled “Can the euro be saved?”. He wrote: The euro may be approaching another crisis. Italy, the eurozone’s third largest economy, has chosen what can at best be described as a Eurosceptic government. This should surprise no one. The backlash in Italy […]

The former Italian prime minister Silvio Berlusconi has officially launched a project to issue a new national currency complementary to the euro as the ace to win the upcoming political elections. With his proposed New Lira, Berlusconi aims to strengthen the right-wing alliance between his Forza Italia, the anti-immigration and anti-EU Northern League led by […]

The most urgent task of the new Gentiloni government is to solve the serious problem of Monte dei Paschi di Siena and other banks with recapitalization troubles – such as Popolare di Vicenza, Veneto Banca Carige, Banca Etruria, CariChieti, Banca delle Marche, and CariFerrara. Even the recapitalization of Unicredit, Italy’s biggest bank by assets, could […]

Here we examine the main differences between Fiscal Money or Tax Discount Bonds (TBDs) which are issued by the state and backed by the future tax revenues, Helicopter Money, that involves a central bank dropping free money straight into people’s pockets – and Quantitative Easing for the People (QEP). Helicopter Money (HM) has recently been […]

Fiscal Money is the most suitable instrument – and perhaps the only one – to overcome Italy’s serious and enduring crisis. The Fiscal Money project can be implemented both in Italy and other Eurozone countries to exit the liquidity trap by increasing aggregate demand. It can also help tackle the weakness of the Italian banking […]