This story, from the lira to the euro, illustrates a central point for all of us today – the importance of monetary stability and of a political and economic culture that recognizes its value. Guido Carli suggested a logical path to take.
“If international competition”, he wrote in 1961, “is indeed the most powerful incentive towards our country’s economic development, there can be no doubt that, in turn, its strongest pillar is monetary stability.