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Quota 90
The Quota 90 () was a controversial revaluation of the lira undertaken by Italian fascist dictator Benito Mussolini, announced on August 18, 1926, at a speech in Pesaro, pegging the exchange rate to Lit. 92.46 to £1 stg (19 lire against the US dollar)Peter Neville. 2003. ''Mussolini''. Routledge. . p. 77. by December 1927, which had been the prevailing market rate when Mussolini took power in 1922.George Holmes. 2001. ''The Oxford Illustrated History of Italy''. Oxford University Press. . p. 275. The Quota has been described as the "most controversial measure undertaken by ussolini'sgovernment before 1929", despite the general consensus that some revaluation was necessary among Italian bankers and industrialists.Alexander De Grand. 2000. ''Italian Fascism: Its Origins and Development''. University of Nebraska Press. . p. 60-62. Minister of Finance Giuseppe Volpi—who preferred a rate of 120, or 125,Franklin Hugh Adler. 1995. ''Italian Industrialists from Liberali ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Revaluation
Revaluation is a change in a price of a good or product, or especially of a currency, in which case it is specifically an official rise of the value of the currency in relation to a foreign currency in a fixed exchange rate system. In contrast, a devaluation is an official ''reduction'' in the value of the currency. Under floating exchange rates, a rise in a currency's value is an appreciation. Altering the face value of a currency without changing its purchasing power is a redenomination, not a revaluation (this is typically accomplished by issuing a new currency with a different, usually lower, face value and a different, usually higher, exchange rate while leaving the old currency unchanged; then the new replaces the old). In a fixed exchange rate system, the central bank maintains an officially announced exchange rate by standing ready to buy or sell foreign currency at that rate. In general terms, revaluation of a currency is a calculated adjustment to a country's official ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Giuseppe Volpi
Giuseppe Volpi, 1st Count of Misurata (19 November 1877 – 16 November 1947) was an Italian businessman and politician. Count Volpi developed utilities, which had brought electricity to Venice, northeastern Italy and the Balkans by 1903. This was most notably Società Adriatica di Elettricità (the Adriatic Electricity Company, or SADEit In 1911–1912, he acted as a negotiator in ending the Italo-Turkish War. He was the governor of the colony of Tripolitania from 1921 until 1925. As the Kingdom of Italy's Minister of Finance from 1925 until 1928, Volpi successfully negotiated Italy's World War I debt repayment with the United States and with the United Kingdom, pegged the value of the lira to the value of gold, and implemented free trade policies. He was replaced in July 1928 by Antonio Mosconi. He was First Procurator of Saint Mark's, an influential position in Venice, from 1927 to 1947, involving the protection and historic preservation of Piazza San Marco and Saint Mark' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Economy Of Fascist Italy
The economy of Fascist Italy refers to the economy in the Kingdom of Italy under Fascism between 1922 and 1943. Italy had emerged from World War I in a poor and weakened condition and, after the war, suffered inflation, massive debts and an extended depression. By 1920, the economy was in a massive convulsion, with mass unemployment, food shortages, strikes, etc. That conflagration of viewpoints can be exemplified by the so-called '' Biennio Rosso'' (Two Red Years). Background There were some economic problems in Europe like inflation in the aftermath of the war. The consumer price index in Italy continued to increase after 1920 but Italy did not experience hyper-inflation on the level of Austria, Poland, Hungary, Russia and Germany. The costs of the war and postwar reconstruction contributed to inflationary pressure. The changing political attitudes of the post-war period and rise of a working class was also a factor and Italy was one of several countries where there was a di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Battle For The Lira
The Battle for the Lira was an economic policy undertaken by the Fascists in Italy during the 1920s as an attempt to raise the claims of Italy becoming a great power. Background When Benito Mussolini took over as Prime Minister of Italy in 1922 the economy was in a bad state following World War I. Between 1922 and 1925, the financial and economic situation generally improved dramatically and this helped to increase the power of Italy, who strived to be one of the world's leading countries. Italy wanted to restore some of its purchasing power. But in order for this to happen it was vital that they strengthen the lira. Mussolini took the view that a weak lira would look bad for the country when presenting Italy as a great power across Europe and the United States. Details Aims The policy had a number of aims. These comprised: *to fix the lira at a rate of Lit. 92.46 ("Quota 90") to sterling (£ stg) *to reduce inflation *to confirm the image of Fascism bringing stabilit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Unemployment
Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is the proportion of people above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period. Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed). Unemployment can have many sources, such as the following: * the status of the economy, which can be influenced by a recession * competition caused by globalization and international trade * new technologies and inventions * policies of the government * regulation and market * war, civil disorder, and natural disasters Unemployment and the status of the economy can be influenced by a country through, for example, fiscal policy. Furthermore, the monetary authority of a country, such as the central bank, can in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Purchasing Power
Purchasing power refers to the amount of products and services available for purchase with a certain currency unit. For example, if you took one unit of cash to a store in the 1950s, you could buy more products than you could now, showing that the currency had more purchasing power back then. If one's income remains constant but prices rise, their purchasing power decreases. Inflation does not always result in decreased purchasing power, especially if income exceeds price levels. A larger real income means more purchasing power, as it corresponds to the income itself. Traditionally, the purchasing power of money depended heavily upon the local value of gold and silver, but was also made subject to the availability and demand of certain goods on the market. Most modern fiat currencies, like US dollars, are traded against each other and commodity money in the secondary market for the purpose of international Balance transfer, transfer of payment for goods and services. Scottish ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Real Wage
Real wages are wages adjusted for inflation, or equivalently wages in terms of the amount of goods and services that can be bought. This term is used in contrast to nominal wages or unadjusted wages. Because it has been adjusted to account for changes in the prices of goods and services, real wages provide a clearer representation of an individual's wages in terms of what they can afford to buy with those wages – specifically, in terms of the amount of goods and services that can be bought; however, real wages suffer the disadvantage of not being well defined, since the amount of inflation (which can be calculated based on different combinations of goods and services) is itself not well defined. Hence real wage defined as the total amount of goods and services that can be bought with a wage, is also not defined. This is because of changes in the relative prices. Despite difficulty in defining one value for the real wage, in some cases a real wage can be said to have unequivoc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Merger
Mergers and acquisitions (M&A) are business transactions in which the ownership of a company, business organization, or one of their operating units is transferred to or consolidated with another entity. They may happen through direct absorption, a merger, a tender offer or a hostile takeover. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position. Technically, a is the legal consolidation of two business entities into one, whereas an occurs when one entity takes ownership of another entity's share capital, equity interests or assets. From a legal and financial point of view, both mergers and acquisitions generally result in the consolidation of assets and liabilities under one entity, and the distinction between the two is not always clear. Most countries require mergers and acquisitions to comply with antitrust or competition law. In the United States, for example, the Clayt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
US Dollar
The United States dollar (symbol: $; currency code: USD) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The U.S. dollar was originally defined under a bimetallic standard of (0.7734375 troy ounces) fine silver or, from 1834, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its equivalence to gold was revised to $35 per troy ounce. In 1971 all links to gold were repealed. The U.S. dollar became an important international reserve currency after the First World War, and displaced the pound sterling as the world's primary reserve currency by the Bretton Woods Ag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Italian Lira
The lira ( , ; : lire, , ) was the currency of Italy between 1861 and 2002. It was introduced by the Kingdom of Italy (Napoleonic), Napoleonic Kingdom of Italy in 1807 at par with the French franc, and was subsequently adopted by the different states that would eventually form the Kingdom of Italy in 1861. It was subdivided into 100 ''centesimi'' (: ''centesimo''), which means "hundredths" or "cents". The lira was also the currency of the Albanian Kingdom (1939-1943), Albanian Kingdom from 1941 to 1943. The term originates from ''libra'', the largest unit of the Carolingian monetary system used in Western Europe and elsewhere from the 8th to the 20th century. The Carolingian system is the origin of the French ''livre tournois'' (predecessor of the franc), the Italian lira, and the Pound (currency), pound unit of Pound sterling, sterling and related currencies. In 1999, the euro became Italy's unit of account and the lira became a national subunit of the euro at a rate of €1 = ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Pound Sterling
Sterling (symbol: £; currency code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound is the main unit of sterling, and the word '' pound'' is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling. Sterling is the world's oldest currency in continuous use since its inception. In 2022, it was the fourth-most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen. Together with those three currencies and the renminbi, it forms the basket of currencies that calculate the value of IMF special drawing rights. As of late 2022, sterling is also the fourth most-held reserve currency in global reserves. The Bank of England is the central bank for sterling, issuing its own banknotes and regulating issuance of banknotes by private banks in Scotland and Northern Ireland. Sterling banknotes issu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Exchange Rate
In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro. The exchange rate is also regarded as the value of one country's currency in relation to another currency. For example, an Interbank lending market, interbank exchange rate of 141 Japanese yen to the United States dollar means that ¥141 will be exchanged for or that will be exchanged for ¥141. In this case it is said that the price of a dollar in relation to yen is ¥141, or equivalently that the price of a yen in relation to dollars is $1/141. Each country determines the exchange rate regime that will apply to its currency. For example, a currency may be floating exchange rate, floating, fixed exchange rate, pegged (fixed), or a hybrid. Governments can impose certain limits and controls on exchange rates. Countries can als ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
