What is Italys monetary unit?
Most Italians maintain that with the euro, prices doubled overnight. Tight monetary policy by the Bank of Italy also has helped bring inflation expectations down. Since 1999, a combination of the introduction of the euro and a house price boom are blamed for a rate of inflation estimated by academics as at least 15%, although officially it is around 2.5%. This was not due to the new currency in itself (widely reviled especially from the political right, since it was Romano Prodi, the center-left’s leader, who headed UE’s efforts in that direction), but to massive dishonesty on part of pricemakers and resellers, in damage of fixed wage perceivers and pensioners.
