(Bloomberg) — On the September night in 1992 when George Soros famously broke the Bank of England, it wasn’t just the British pound that crashed. The Italian lira cratered too, the last of its numerous 20th century devaluations.One veteran who is still at the Finance Ministry in Rome recalls a colleague researching “bankruptcy” and “failed state” amid the chaos as resentment swelled at the indifference of European allies, notably Germany.Those memories of market mayhem re-emerged along with the old fault lines following the economic shock of the coronavirus lockdowns. Italy did make it to the monetary mainstream, becoming a founding …read more
Source:: Yahoo Finance
