The experiment in "monetarism" - using the control of the money supply to control inflation - was quite quickly abandoned.

BBC: Margaret Thatcher: The economy now and then

And, sadly, because Italy no longer has control of its currency it cannot print money (ie, do quantitative easing) in order to stop the money supply falling.

FORBES: Eurozone: The Italian Problem in One Picture

MSBs, however, the scarcity of government bonds makes it hard for the central bank to engage in open-market bond dealings to control the money supply.

ECONOMIST: South Korea