Banking and Finance in the Mediterranean

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A Primary Rcsource for Social
Banking and Finance in the Mediterranean A Historical Perspective

Ediled by

101-fN A. CONS IGLIO 771e Universily oJMa/la, MalIa lUAN CARL OS MARTINEZ OLIVA Banca d'llalia, Ita/y GABR IEL TORTELLA Universidad de Alcala, Spain

wilh Monika Pohle Fraser and lain L. Fraser

:~~: * **

ASHGATE

© Jolm A. Con sigli o, JlHm Carl os Mar tincz Oliv a, and Gabriel Tortella, with Mon ika Pohl c

Fras cr and fa in L. Fras cr and the cont ributors 2012

Contents

Ali rights rescrved. No part of this publicalioll may be repr oduc ed, storc d in a retricval systclll or tran smin ed in any fonn or by any mea ns, c1cctronic. mec hani cal, phot ocop ying,

reco rdin g or othe rwis e with out tlle prior perm issio ll of thc publisher.

John Con sigli o, Juan Carl os Mar tinez Oliv a, and Gab riel Tort ella have asse rtcd their right 1I11dcr the Cop yrig ht, Desi gns and Patcnls Act, 1988, te be identified as tbc edito rs of Ihis work. Publ ishe d by

Ashg atc Publ ishin g Lim ited

Wcy Cou rl East Union Road Fam ham Surrcy, GU9 7PT

England

Ashg ate Publ ishin g Com pany Suil e 420 101 Cbcr ry Strec t Burl ingto n VT 0540 1-4405

Lisi ofTo bles Lisi of Figures Notes 011 ContribUlors

A Small, Open Mediterranean Econom y - Then and Now Address by Michael C. Bone/lo, Gov ernor, Cen /ral Ban k oJM alia

15

2

Malta's Banking History: Overview and Observalions Joh n A. Con sigl io

23

3

Olltlincs of Malta's Numismatic Hist ory Jose ph C. Som mu/ K-M.

43

PAR T Il

4

5

20 11 0265 68 ISBN 9781 4094 2984 5 (hbk ) ISBN 9781 4094 2985 2 (cbk )

MIX Papar Irom '8$pons!t)!e sou,c es

FSC- C01 8575

Printed and boun d in Grea t Britain by thc

MPG Books Grou p, UK.

TH E RIS E OF MO OER N BA NK lNG ANO FlN AN CE

IN TH E ME DlT ERR AN EAN

The Mediterrancan Banking Systems : Convergence or Path Dependenee? Mas simi lian o AffinilO and Ricc ardo De BOl1is

59

Slability against Ali Odds: The Imp erial Ottoman BanI