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Italian Parliament To Discuss Bank Of Italy Gold Sale -Report364 days ago
ROME (Dow Jones)--The Italian parliament will consider a long-discussed plan to use Bank of Italy gold reserves to lift the country's economy, business daily MF reports Friday, citing parliament's finance committee chairman.
Finance Minister Giulio Tremonti has been mulling the sale of Bank of Italy gold, which MF said was worth around EUR44 billion, for some time to cut Italy's huge debt and finance infrastructure projects, the paper says.
Previous attempts by European Union governments to use proceeds from central-bank reserve sales to support political goals have met with resistance. Moreover, the Bank of Italy is bound by an agreement among European central banks that strongly limits its freedom to sell its gold and foreign-exchange reserves.
Newspaper Web site: http://www.milanofinanza.it
-Rome Bureau, Dow Jones Newswires; +39 06 6976691
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