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| ITALICA NEWS |
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| Italy's fiscal shield has a limited impact on San Marino's economy |
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| [ Italica ] - “We are monitoring the effects of Italy's Scudo Fiscale (“fiscal shield”) program that allows Italian citizens to bring money avoiding sanctions. The data show that the impact on our banking system is limited” - Luca Papi, Director-General of the Central Bank of San Marino said on Friday. On the basis of the official figures, the fiscal shield involves roughly 995 million euros, namely the 7.3 per cent of the total net inflows. [November 13, 2009 – Italica news from Italy and San Marino] |
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