Italy Creates the Industrial Reconstruction Institute
At a glance:
- Series: Great Events from History II: Business and Commerce Series
- Categories: Government and Politics, Economics
- Subcategories: Business, Industry, Manufacturing, Factories, Organizations, Agencies, Institutions, Banks, Banking, Finance, Depressions, Recessions
- Curriculum: Italian History, 20th & 21st Century European History
- Geographical Location: Rome
- Date: January 23, 1933
Article abstract: As a response to the banking crisis of the 1930’s, the Italian government created the IRI, which bought bank-owned shares of stock in failing companies.
Summary of Event
A common practice among Italian banks in the 1920’s was to purchase large blocks of stocks in firms to which they had lent money. In this way, the banks could have an influence on management operations and, presumably, make sure that their financial interests were being handled responsibly. As a result of the worldwide economic depression of the 1930’s,...
[The entire page is 2291 words long]
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