Italian Banks take wine as collateral!

wine from the cellar

Recession? No matter:

“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.”

Like I needed more reasons to move back to Italy!

Read more via the Guardian.