Pope on a note for the Vatican?
THE Margin is intrigued with the currency dilemma facing the Vatican, which announced its budget results this week. The lira circulates in the Vatican under a 1929 agreement, but if the lira is subsumed into the euro, then this agreement lapses. Technically, the Vatican points out, it could decide to circulate its own currency, or even link to another non-European currency altogether. The Margin's money is on the Vatican linking with the euro. It certainly meets the Budget criteria - announcing its fourth straight surplus this year. No doubt it will bring its own influence to the single currency club. White smoke from the EU central bank when interest rate decisions are made, perhaps?