Money and Promises

In the twelfth century, Pisa was a powerhouse of global trade, a city that stood at the centre of Medieval Europe. But Pisa had a problem. It was running out of coins. In the face of a looming financial crisis, the city''s rulers and its moneylenders forged a deal that laid the foundations of the modern state and of present-day banking.

In Money and Promises, the distinguished banker and scholar Pa...