1938The 'Lasa Marmo' ceases activity

As a consequence of the above and given the impossibility of any stable economic planning under the totalitarian regimes of Mussolini and Hitler, Lasa Marmo failed to produce acceptable financial outcomes. In isolated cases, through triangular arrangements with third countries, Lasa succeeded in circumventing the League of Nations’ sanctions associated with Mussolini’s African adventures. Access to the German market was greatly hampered by the high customs duties. In the context of the Aryanization of the Jewish wealth, Hardy Bank was controlled, from 1936, by Dresdner Bank, which eventually closed Lasa Marmo in 1938, after a vain attempt to get rid of it.

NPE