BRUSSELS has waged war on Italy after threatening to demand huge amounts of cash from the troubled nation should it pull out of a colossal rail project that has divided its coalition government for months.
The Economist: An idea for a parallel currency resurfaces in Italy
Matteo Salvini says he wants to press ahead with “mini-BOTs”
So-called mini-bots, originally hatched by eurosceptics to replace the euro, made it onto the ruling coalition’s manifesto last year. Mini-bots (Buoni Ordinari del Tesoro, or ordinary treasury bonds) would be used to settle the government’s bills with commercial suppliers. Recipients could use them to pay taxes, or for public services. Devised by Claudio Borghi, an economist of the Northern League, one of Italy’s ruling parties, they would be low-denomination bills (up to €500, or $569) that bear no interest.