Ah, the Italians….
Italian bank vaults may soon resemble well stocked delicatessens if a plan goes ahead to accept expensive wines and dry-cured hams as collateral on bank loans from crisis-hit producers.
The idea, which was launched this week by an influential Italian bank chairman and wine producer, was backed by an Italian minister and follows the tradition of Italian banks storing massive wheels of parmesan cheese as loan collateral.
“We’ve done it with cheese, why not with prosciutto and good wines like Brunello di Montalcino and chianti classico?” said Gianni Zonin, chairman of the Banca Popolare di Vicenza and head of wine producer Zonin.
“This is a great idea, it has my blessing,” said Luca Zaia, the Italian agriculture minister.
– from the Guardian