Italy’s government is pushing ahead with new laws challenging the central bank’s control of the country’s reserves. Rome is calling for public ownership of the nation’s gold.
The ruling coalition of the anti-establishment 5-Star Movement and the League parties proposed two bills that have evoked nationwide controversy over the country’s long-standing financial and monetary system. One draft law may, reportedly, oblige the central bank’s owners to sell their shares to the Italian Treasury at prices from the 1930s, while the second law is set to declare Italian nationals to be the owners of the Bank of Italy’s reserves. Source: RT
France last year applied a 3 percent levy on revenue from digital services earned in France but suspended collection of the tax. The French Finance Ministry has sent out notices to big tech companies liable for its digital service tax to pay the levy as planned in December, the ministry said on Wednesday. Source NBCNews
- Bitcoin soared above $19,000 on Tuesday for the first time in nearly three years, bringing the cryptocurrency within spitting distance of its 2017 record.
- The price of Bitcoin jumped as much as 3.3%, to $19,272.21, through the morning.
- Cryptocurrencies have garnered new interest from both Wall Street and Main Street in recent weeks as companies and traditional investors embrace digital tokens.
- The rally lifted other popular cryptocurrencies including Ethereum and Ripple. Source BusinessInsider
The European Commission issued on Wednesday a warning to Athens that the market support measures during the pandemic should not be excessive so that they do not jeopardize the sustainability of the public debt. It also highlighted that the debt will remain at risk unless growth is supported, which makes it imperative that reforms continue and the Next Generation EU resources are put to full use. Source Ekathimerini
