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Matthew Lynn’s London Eye: Italy’s economy could soar with a parallel currency

There have been some amazing Italian inventions over the centuries. The newspaper. The pistol. The radio. The stock exchange. The motorway. And who could overlook those staples of modern life, jeans (originally from the French word for Genoa: genes) or the pizzeria.

Few other countries have contributed quite as much to creating the world we live in.

Right now, Italy could be on the brink of another major innovation. A parallel currency to run alongside the euro EURUSD, +0.2806% . It already had the backing of the former Prime Minister Silvio Berlusconi, and the parties supporting it are steadily gaining ground in the polls.

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