World Economy

Double Currency in Italy?

Double Currency in Italy?Double Currency in Italy?

Italy was deeply affected by the Eurozone crisis that started in 2010. The country had run a budget deficit and its national debt was almost equal to 120% of its GDP, Sputnik reported. This resulted in a downgrading of the country’s credit rating and a decline in international investments. In 2011, the Italian government initiated austerity measures, intended to stabilize country’s economy. “I would think about a double currency, why not to use the Euro along with other currencies, meant as commodities, and have a local currency, for local business, as in many countries of the world,” Paolo Bernadini, founding member of the Independence Veneta party, said.