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

In particular, some seem to believe that the absence of strict control over the money supply notably the hemorrhaging of subsidized credits to bankrupt state-owned industries (read the military-industrial complex) is accepted by the Russian government as the single greatest obstacle to true structural change and that corrective action is in the offing.

CENTERFORSECURITYPOLICY: Center for Security Policy | Over To You: Congressional Scrutiny Urgently Required On Aid To Russia

In particular, some seem to believe that the absence of strict control over the money supply -- notably the hemorrhaging of subsidized credits to bankrupt state-owned industries (read the military-industrial complex) -- is accepted by the Russian government as the single greatest obstacle to true structural change and that corrective action is in the offing.

CENTERFORSECURITYPOLICY: Center For Security Policy

Central banks control the narrowest measure of the money supply, called the monetary base typically, currency plus the reserves that commercial banks hold with the central bank.

ECONOMIST: Economics focus

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