Steve H. Hanke: Italy’s Renzi Goes Toe-to-Toe with the EU over Italy’s Troubled Banks

renzi bank
Only 17 percent of Italy’s money supply (M3) is accounted for by State money produced by the European Central Bank (ECB). The remaining 87 percent is Bank money produced by commercial banks through deposit creation.

Read more: Italy, European Union, Matteo Renzi, Banks, Bailout, EU Referendum, World News

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