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Italy government won’t sell ‘a gram’ of gold reserves: League lawmaker

Italy government won't sell 'a gram' of gold reserves: League lawmaker© Reuters. The Italian flag waves over the Quirinal Palace in Rome

ROME (Reuters) – The Italian government has no intention to sell the Bank of Italy’s gold reserves to plug budget holes, a prominent lawmaker of the ruling League party said on Wednesday.

“We do not want to sell a gram (of gold),” Claudio Borghi, chairman of the Budget Commission in the Lower house and League’s economics spokesman said in a interview with state-owned television RAI.

The League has drafted a law proposal which would eventually allow the government to sell the country’s gold reserves through a change to the constitution.

Borghi has already tabled a bill intended to establish that the gold is the property of the state rather than of the Bank of Italy, a point which is disputed in Italy.

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Source: Investing.com

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