As Italy plans fiscal money to subvent ECB and Euro, there is another interesting story from the country.
Italian Mafia still uses Old Lira notes!
Italy’s proposed mini T-Bills may be pie in the sky for now, but it appears the country already has another currency floating around — the old lira.
A senior police officer revealed this week that domestic criminal organizations are still using the pre-euro currency for illicit transactions. It’s not clear how the former notes are ultimately exchanged for euros, if at all, though he said officers are still uncovering them. The lira ceased to be legal tender at the end of February 2002.
“We still discover big amounts of liras,” Giuseppe Arbore, a deputy in the Guardia di Finanza, which investigates financial crimes, said at a parliamentary hearing on Thursday. “Italian liras still constitute parts of illicit transactions.’’
Arbore’s remarks prompted amazement among lawmakers…
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