Italy’s strained banks are using wheels of Parmesan cheese to back loans

Signal of change / Italy’s strained banks are using wheels of Parmesan cheese to back loans

By Corina Angheloiu / 23 Jan 2017

Italy's strained banks are using wheels of Parmesan cheese to back loans

When Parmesan prices proved too volatile for Italy's strained banks a dairy cooperative near Bologna came up with a novel solution to its funding needs, bonds backed by wheels of cheese. But 4 Madonne Caseificio dell'Emilia remains an exception among small businesses struggling to get long-term funds in Italy, where a credit crunch risks holding back a fragile economic recovery after more than a decade of stagnation.



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