01604cas a2200241 a 4500 AALejournalIMF014355 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484358801 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. Republic of San Marino : Staff Report for the 2014 Article IV Consultation. Washington, D.C. : International Monetary Fund, 2014. 1 online resource (38 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This 2014 Article IV Consultation on the Republic of San Marino highlights global crisis and tense relations with Italy, which triggered a 30 percent GDP contraction since 2008 and a sea change in San Marino's off-shore banking model. High liquidity in the system allowed banks to withstand the shock to deposits. Cassa di Risparmio della Repubblica di San Marino, the largest bank, has required 13 percent of GDP in public support. The deep recession and bank recapitalization costs are weighing heavily on public finances. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2014/104 Full text available on IMF http://elibrary.imf.org/view/journals/002/2014/104/002.2014.issue-104-en.xml IMF e-Library