Word: lira
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...Rome in 1946 as a parliamentary deputy; a year later Luigi Einaudi, now Italy's President, took him into the Finance Ministry to help promote his hard-money policy. Pella took with him his boyhood concern for pennies and his businessman's love for the solid lira, and soon became De Gasperi's Finance Minister. To keep the lira stable, he fought tenaciously against many of his party who wanted vote-catching spending programs. Once, in 1951, he resigned rather than give in, bringing the government down with him. De Gasperi formed a new Cabinet and persuaded...
...tightening program, Britain's "free market" pound has risen from $2.35 in New York to close to the official rate of $2.80. West Germany's Deutsche mark has risen in value from 6? to around 22?, and is rivaling the Swiss franc for stability. Italy's lira, which sank as low as 915 to the dollar during 1948's fears of Communist election victories, is almost up to the official rate (625). The Benelux nations-Belgium, The Netherlands, Luxembourg-established such a good postwar export trade that their stable currencies did not even tremble during...
BECAUSE of a widening trade gap with the rest of the world, Turks fear the lira may be devalued. The government had hoped the gap would be filled by bigger wheat exports, but price-supported Turkish wheat is too expensive for the world market. In Istanbul's black market, the lira, officially pegged at 2.82 to the dollar, was down to 5.50 last week...
...liked our quarter," begins Valerio, the studious boy who tells the story. It was, he recalls, a place where everyone scrounged for an extra lira, where the houses rotted with age and children played on the stoops of brothels; yet Valerio and his pals, fired with adolescent hope and vanity, felt that somehow they would find life brighter than their beaten-down parents had managed...
...Rome's Borghese Gallery for a month's exhibit before being handed over to its new owners: Milan's city fathers, who plan to show their prized Pietà in a special room of the city's Castello Sforzesco museum. The bargain price: 135 million lira (about $216,000). The Italian government had discouraged private buyers by ruling that the Pietà could not leave the country, and by reminding that any sale to new private owners inside Italy would fee subject...