What goes around comes around

Tools to fix the bank, to break it in the north and in the south of Europe



When banking activity arrived in Tuscany in the Middle age, the term banco meant what today we know as bank. On the banco (the bench) the money exchange and the bank activities of the time were performed.

A regulator was present already at the time, and way before that. The most evident presence of the regulator in those years was the action performed in order to be sure the broken banker would not come to the market the next day: the regulator came with an ax to break the bank (banco rotto, out of which bancarotta, so bankruptcy in English) .

About 20 years before the discovery of America, a bank had started, showing the way of banking to the world and always avoiding the ax of the regulator. Today’s new but still not yet fully known regulator looks willing to swing its ax.

Are we getting very close to the coinage of a neologism? The ascia rotta too could start to approach, how would that transfer into the new banking language (English)?

Even if we still miss the solution to the last question, we can already see that the όστρακα will stay with the δημος (as it was too well known in ancient Greece and has been well reminded recently).


Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s