RE: Why Italy won't default on it's debts
Mini-Bots are small non-interest paying perpetual securities.
Under eurozone laws governments are allowed to issue securities. Most issue large denomination interest paying securities that have a redemption date (fixed term).
Italy intends to issue tiny securities denominated in 1 euro, 10 euro 20 euro and 100 euro amounts, which pay no interest and have no redemption.
They are IOUs, but of course so is normal currency "I promise to pay the bearer...).
As long as they don't make them legal tender (where retailers have to accept them) they are legal. And they plan to accept them in state owned enterprises and for paying tax, and to issue them to benefit claimants.
Because they can be used to pay tax, you should start to see a secondary market where the mini-bots are purchased at a discount by those who want to use them to pay tax instead of using euros. Hence they should start circulating fast. Once they are circulating more than euros then you can declare them the main currency, or use them as a parallel currency to the euro forever (thereby providing much needed liquidity into Italy's economy without in theory affecting the other eurozone countries.
Here is Bloomberg on how mini-bots would work:
Interesting. They would need to start small and build up slowly otherwise the markets will panic if they release large amounts of mini-BOTS at once.
Thanks for your elaborated reply. If I undersood right, mini bots are kind of state issued parallel or regional currencies as we knew them. With Germany getting all that gold back, perhaps not long and we will see the rise of the Deutschmark again.