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The lira was the official unit of currency in Italy until 1 January 1999, when it was replaced by the euro (the lira was officially a national subunit of the euro until the rollout of euro coins and notes in 2002). Old lira denominated currency ceased to be legal tender on 28 February 2002.
Today its official currency is the euro, but as goes for all EU countries, Italy also had its own currency before 1999. Before the euro, Italians had used the lira for two hundred years, but their currency history dates back to the Roman Empire.
22 lis 2021 · The florin provided the standard for the coinage across Europe and became the trade coin of choice that was worth more than silver. Many European nations began to model after the florin by issuing their currencies. The florin remained as Italy’s currency until the 16th century when the Italian lira replace it.
24 sie 2014 · The lira (plural lire) was the currency of the Italy between 1861 and 2002. Between 1999 and 2002, the Italian lira was officially a “national subunit” of the euro. However, physical payments could only be made in lire, as no euro coins and notes were available.
28 kwi 2022 · In 2000, 57 million people measured their wealth in lire – the European currency with the lowest nominal value. For one euro, one almost had to pay 2000 lire; thus, the currency change marked for many Italians the end of their lives as millionaires.
In the recent decades, however, Italy's economic growth has been particularly stagnant, with an average of 1.23% compared to an EU average of 2.28%. Previously, Italy's economy had accelerated from 0.7% growth in 1996 to 1.4% in 1999 and continued to rise to about 2.90% in 2000, which was closer to the EU projected growth rate of 3.10%.
The answer is not easy, depending both on the historical period, since one "ducato" in 1615 was not the same value as in 1860, and on the cost of life; also in our times 50 Euro is a low-income family's need per day in Italy, and a month's salary in other parts of the world, so money is a very relative factor.
