Word: lired
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...question is not so much the destination as it is how to get out of Italy with the means of supporting themselves in the manner to which they would like to become reaccustomed. Most succeed in spite of the law forbidding Italian residents to take more than $580 in lire out of the country. But authorities have started cracking down. Last month Actress Sophia Loren and her husband, Producer Carlo Ponti, were charged with having illegally transferred several million dollars abroad...
...Student Giuseppe Luppino, 21, from captivity in a crude hut near the southern Italian village of Seminara. After Luppino's seizure more than a month ago, his ft earlobe had been cut off and sent to his father with a note saying, "Unless you pay us 500 million lire, you'll get me head of your son, not just...
Nowhere has the boom been more thoroughly exploited than in Ticino (pop.: 265,000), which lies along the country's border with Italy. The banking industry there, centered largely in the towns of Lugano and Chiasso, is built on Italian flight capital. Billions of lire are smuggled out of Italy each year by depositors worried variously about high taxes, inflation (current annual rate: 21%), and the political gains of the Communist Party. As many as 254 Swiss banks or branches located in Ticino compete fiercely for these loose lire. Some of the banks are suspected of collaborating...
...ready to shout rhetoric any more at the cue of a red or black flag." Walsh is flying to Italy in August for a ten-month internship with the Rome Daily American. There her salary will be $80 a week, but she adds: "It sounds a lot better in lire -250,000 a month...
However, the investments did not flourish as the Chiasso bankers hoped they would. Then, in late 1976, the Italian government, which hoped to lure home lire, offered a blanket amnesty to all Italians who would bring back their money. Result: withdrawals were so large that Crédit Suisse's branch in Chiasso was forced to turn for help to the home office in Zurich. The head office's investigation led to police involvement. Three Chiasso bankers, including Branch Manager Ernst Kuhrmeier, have been arrested on charges of criminal mismanagement...