An Italian financial institution accepts valuable Parmigiano-Reggiano as collateral from struggling farmers.
Photo by Valerie Hinojosa via Flickr
It’s easy to be impressed by the historical and modern wealth of Italy’s Emilia-Romagna region. Heavy with Renaissance architecture, intellectual heritage, and a rich culinary culture, the district also arguably has one of the highest qualities of life in the country. Soaking in this opulence, it’s easy to think that the barbed wire around the region’s major banks must guard gobs of cash and gold. But at least one major banking chain in the region, Credito Emiliano (Credem), has started using its vaults to store and trade a more delicious form of wealth: cheese.