1.   A weaker lira makes Italian exports cheaper in foreign-currency terms.

2.   A weaker lira makes Italian exporters more competitive and boosts the value of their foreign-currency earnings.

3.   Earnings were also hurt as a strengthening of the Swedish krona and the Italian lira made Electrolux products made in these countries more expensive abroad.

4.   A cheaper lira would make Italian products more attractive to buyers.

5.   Turkey had hoped to base its recovery on higher export earnings and increased tourism, as the weak lira made Turkish goods and holidays more competitive.