Economics
Italy Minister Chasing Evaders Shows Home Value Below Market
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Italian Finance Minister Vittorio Grilli, appointed by Prime Minister Mario Monti to spearhead a drive to prevent tax evasion, purchased his 14-room home in Rome at a price less than the reported market values in his neighborhood and dwarfed by his mortgage, according to records of the 2004 transaction.
Documents signed by Grilli and filed with the Italian land registry say he paid 1.065 million euros ($1.42 million) for the ground-floor apartment with a garden in the hilltop Parioli quarter. Government archives show he obtained a mortgage of 1.5 million euros, or 41 percent more than the registered purchase price.