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Italian Lira
The lira (Italian: [ˈliːra]; plural lire [ˈliːre]) was the currency of Italy
Italy
between 1861 and 2002 and of the Albanian Kingdom between 1941 and 1943. Between 1999 and 2002, the Italian lira
Italian lira
was officially a national subunit of the euro. However, cash payments could be made in lira only, as euro coins or notes were not yet available. The lira was also the currency of the Napoleonic Kingdom of Italy
Italy
between 1807 and 1814. The term originates from the value of a pound weight (Latin: libra) of high purity silver and as such is a direct cognate of the British pound sterling; in some countries, such as Cyprus
Cyprus
and Malta, the words lira and pound were used as equivalents, before the euro was adopted in 2008 in the two countries. "L", sometimes in a double-crossed script form ("₤"), was the symbol most often used
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Italian Language
Italian ( italiano (help·info) [itaˈljaːno] or lingua italiana [ˈliŋɡwa itaˈljaːna]) is a Romance language. Italian is by most measures, together with the Sardinian language, the closest tongue to vulgar Latin
Latin
of the Romance languages.[7] Italian is an official language in Italy, Switzerland, San Marino, Vatican City
Vatican City
and western Istria
Istria
(in Slovenia
Slovenia
and Croatia). It used to have official status in Albania, Malta
Malta
and Monaco, where it is still widely spoken, as well as in former Italian East Africa
Italian East Africa
and Italian North Africa regions where it plays a significant role in various sectors
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Monetary Inflation
Monetary inflation
Monetary inflation
is a sustained increase in the money supply of a country (or currency area). Depending on many factors, especially public expectations, the fundamental state and development of the economy, and the transmission mechanism, it is likely to result in price inflation, which is usually just called "inflation", which is a rise in the general level of prices of goods and services.[1][2] There is general agreement among economists that there is a causal relationship between monetary inflation and price inflation. But there is neither a common view about the exact theoretical mechanisms and relationships, nor about how to accurately measure it. This relationship is also constantly changing, within a larger complex economic system
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Victor Emmanuel II
Italian: Vittorio Emanuele Maria Alberto Eugenio Ferdinando Tommaso English: Victor Emmanuel Mario Albert Eugene Ferdinand ThomasHouse SavoyFather Charles Albert of SardiniaMother Maria Theresa
Maria Theresa
of AustriaReligion Roman CatholicismSignature Victor Emmanuel II
Victor Emmanuel II
(Vittorio Emanuele Maria Alberto Eugenio Ferdinando Tommaso di Savoia; 14 March 1820 – 9 January 1878) was King of Sardinia from 1849 until 17 March 1861. At that point, he assumed the title of King of Italy
King of Italy
and became the first king of a united Italy since the 6th century, a title he held until his death in 1878
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United States Dollar
 United States  East Timor[2][Note 1]  Ecuador[3][Note 2]  El Salvador[4]  Federated States of Micronesia  Marshall Islands  Palau  Panama[Note 3]  Zimbabwe[Note 4]3 non-U.S
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Deflation
In economics, deflation is a decrease in the general price level of goods and services.[1] Deflation
Deflation
occurs when the inflation rate falls below 0% (a negative inflation rate). Inflation
Inflation
reduces the value of currency over time, but deflation increases it. This allows one to buy more goods and services than before with the same amount of currency. Deflation
Deflation
is distinct from disinflation, a slow-down in the inflation rate, i.e. when inflation declines to a lower rate but is still positive.[2] Economists generally believe that deflation is a problem in a modern economy because it increases the real value of debt, especially if the deflation is unexpected
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Benito Mussolini
Benito Amilcare Andrea Mussolini
Mussolini
(/bəˈniːtoʊ mʊsəˈliːni, muːsə-/; Italian: [beˈnito mussoˈlini];[1] 29 July 1883 – 28 April 1945) was an Italian politician and journalist who was the leader of the National Fascist Party
National Fascist Party
(Partito Nazionale Fascista; PNF)
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Inflation
In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.[1] When the price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy.[2][3] A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index, usually the consumer price index, over time.[4] The opposite of inflation is deflation. Inflation
Inflation
affects economies in various positive and negative ways
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World War I
Allied victoryCentral Powers' victory on the Eastern Front nullified by defeat on the Western Front Fall of the German, Russian, Ottoman, and Austro-Hungarian empires Russian Civil War
Russian Civil War
and foundation of the Soviet Union Formation of new countries in Europe
Europe
and the Middle East Transfer of German colonies
German colonies
and regions of the former Ottoman Empire to other powers Establishment of the League of Nations
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Gallo-Italic Languages
The Gallo-Italian, Gallo-Italic, Gallo-Cisalpine or simply Cisalpine languages constitute the majority of the languages of northern Italy. They are Piedmontese, Lombard, Emilian-Romagnol and Ligurian, although there is some doubt about the position of the latter due to a number of special characteristics.[citation needed] The Venetian language
Venetian language
is usually considered one of the Italo-Dalmatian languages; however, some publications define it as Gallo-Italian.[2] The Gallo-Italian languages have characteristics both of the Gallo- Romance languages
Romance languages
to the northwest (including French and Occitan) and the Italo-Dalmatian languages to the south (including Italian). Examples of the former are the loss of all final vowels other than -a; the occurrence of lenition; the development of original /kt/ to /jt/ (and often later to /tʃ/); and the development of front rounded vowels (e.g
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Swiss Franc
The franc (sign: Fr. or SFr.; German: Franken, French and Romansh: franc, Italian: franco; code: CHF) is the currency and legal tender of Switzerland
Switzerland
and Liechtenstein; it is also legal tender in the Italian exclave Campione d'Italia. The Swiss National Bank
Swiss National Bank
(SNB) issues banknotes and the federal mint Swissmint
Swissmint
issues coins. The smaller denomination, a hundredth of a franc, is a Rappen
Rappen
(Rp.) in German, centime (c.) in French, centesimo (ct.) in Italian, and rap (rp.) in Romansh. The ISO code of the currency used by banks and financial institutions is CHF, although Fr. is also widely used by businesses and advertisers; some use SFr
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Malta
Coordinates: 35°53′N 14°30′E / 35.883°N 14.500°E / 35.883; 14.500 Malta
Malta
(/ˈmɒltə, ˈmɔːl-/ ( listen); Maltese: [ˈmɐltɐ]), officially known as the Republic of Malta (Maltese: Repubblika ta' Malta), is a Southern European island country consisting of an archipelago in the Mediterranean
Mediterranean
Sea.[10] It lies 80 km (50 mi) south of Italy, 284 km (176 mi) east of Tunisia,[11] and 333 km (207 mi) north of Libya.[12] The country covers just over 316 km2 (122 sq mi),[4] with a population of just under 450,000,[5] making it one of the world's smallest[13][14][15] and most densely populated countries
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Cyprus
Cyprus,[f] officially the Republic of Cyprus,[g] is an island country in the Eastern Mediterranean and the third largest and third most populous island in the Mediterranean. Cyprus
Cyprus
is located south of Turkey, west of Syria
Syria
and Lebanon, northwest of Israel, north of Egypt, and southeast of Greece. The earliest known human activity on the island dates to around the 10th millennium BC. Archaeological remains from this period include the well-preserved Neolithic
Neolithic
village of Khirokitia, and Cyprus
Cyprus
is home to some of the oldest water wells in the world.[9] Cyprus
Cyprus
was settled by Mycenaean Greeks in two waves in the 2nd millennium BC
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Latin Language
Latin
Latin
(Latin: lingua latīna, IPA: [ˈlɪŋɡʷa laˈtiːna]) is a classical language belonging to the Italic branch of the Indo-European languages. The Latin alphabet
Latin alphabet
is derived from the Etruscan and Greek alphabets, and ultimately from the Phoenician alphabet. Latin
Latin
was originally spoken in Latium, in the Italian Peninsula.[3] Through the power of the Roman Republic, it became the dominant language, initially in Italy and subsequently throughout the Roman Empire. Vulgar Latin
Vulgar Latin
developed into the Romance languages, such as Italian, Portuguese, Spanish, French, and Romanian. Latin, Greek and French have contributed many words to the English language
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Pound (mass)
The pound or pound-mass is a unit of mass used in the imperial, United States customary and other systems of measurement. Various definitions have been used; the most common today is the international avoirdupois pound, which is legally defined as exactly 6999453592370000000♠0.45359237 kilograms, and which is divided into 16 avoirdupois ounces.[1] The international standard symbol for the avoirdupois pound is lb;[2] an alternative symbol is lbm[3] (for most pound definitions), # (chiefly in the U.S.), and ℔[4] or ″̶[5] (specifically for the apothecaries' pound). The unit is descended from the Roman libra (hence the abbreviation "lb"). The English word pound is cognate with, among others, German Pfund, Dutch pond, and Swedish pund
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Currency
A currency (from Middle English: curraunt, "in circulation", from Latin: currens, -entis), in the most specific use of the word, refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins.[1][2] A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation.[3] Under this definition, US dollars, British pounds, Australian dollars, and European euros are examples of currency. These various currencies are recognized stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies.[4] Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance. Other definitions of the term "currency" are discussed in their respective synonymous articles banknote, coin, and money
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