European Journal | San Marino: Winner in the Bank Crisis
1,845 views · Published 23 October 2008 · 5:03 · Indexed 25 September 2026
Channel: DW News · 2008 · Entertainment
The tiny independent state of San Marino, which is completely surrounded by Italy, could be the big winner in the bank crisis. The capital reserves of ist central bank are greater than is usual for Italian banks. Back in August, San Marino passed a strict law controlling the investments that commercial banks can engage in, and so far not one of the countryâs 12 banks is in trouble at all. But some people say there is another reason for the success of San Marinoâs banks, which attracted 15 billion euros from abroad last year: the tiny state is a haven for tax evaders.
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