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    Italy has got 8 times more gold reserves than Britain, Barry.
    The Italians could introduce a gold-backed lira, and use it in circulation, while still keeping the euro, which they could phase out gradually and replace with more lire as time goes by.

    Because gold reserves are not currently used to back the euro, it would work, as the gold is "vacant".
    Italy's gold reserves amount to something like US$ 140 billion.

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