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Italy: Future is here
  • Vitaliy_KiselevVitaliy_Kiselev

    I am sure the Euro will oblige us to introduce a new set of economic policy instruments. It is politically impossible to propose that now. But some day there will be a crisis and new instruments will be created.

    Romano Prodi, EU Commission President, December 2001

    New Italian PM Mario Monti has mandated a cap on cash transactions in Italy of 1,000 euros, and reportedly wishes to gradually reduce this to 300 euros.

    Italy has also set up checkpoints at the border to Switzerland to search Italians for illegal contraband (cash) fleeing the Euro for the safety of Switzerland. Finance Police has placed cameras at the physical borders with Switzerland to register all license plates.

    New requirement that credit card companies report all transactions carried out by Italians, in Italy and abroad to the fiscal authorities;

    Delays and refusals by banks in allowing customers to withdraw cash balances of as little as Euro 10,000

  • 9 Replies sorted by
  • stoneystoney

    No more Ferrari.

  • bitcrusherbitcrusher

    Peter Thiel a paypal founder invested a million bucks in the idea of artificial islands in international waters. Its looking like a good decade for a underground currency becoming a reality.

  • Vitaliy_KiselevVitaliy_Kiselev

    Interesting thing is that to solve small problems this guys make thing more easy to dismantle them.

    As eradication of current financial system really requires complete non-electronic money elimination. As in current form you can't rebuild real sector with presence of banks, insurers and real money.

  • ElenionElenion

    Well in the us (in big cities) no one pays anymore with physical cash. And of course the tax evasion in italy is unbelievable from the ones who don't live here (in calabria is almost 90%). There are winds of change now but this new government will last for not much more than one year... and then...?

  • chefchef

    Everything gonna look like before....

  • BuellerBueller

    Welcome to the Animal Farm

  • KihlianKihlian

    Is not like before, honest people must pay more tax than before and politics earn like before overpaid wages!

  • RRRRRRRR

    If you add a V to the beginning of the topic, you get an interesting result. ;) (No offence Vitaliy)

    . . . .

    I'll get my coat.

  • RobertoRoberto

    Friday 14 Jan's French News showed Italian police dismantling illegal terrace dining areas from restaurants (the terrace part, in the streets and plazas), removing clear plastic walls, chairs and tables while diners suddenly had to leave their meals and go. The restaurant owners were incredulous at the police action after all these years. They'd never paid [the Italian state] any rent before, nor been asked to. I wonder if the restaurateurs might have been paying someone else - one official, perhaps? Or perhaps some other organisation, more influential than the Italian government?

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