Italy scares markets and Europe, again, with new calls to leave the euro

Tuesday, October 2, 2018 | Tag Cloud Tags: , , , , , ,

Domino Effect - Financial Crisis in European Union

(Worthy News) - The Italian government is creating further turmoil in financial markets on Tuesday morning, after new comments that Rome would be better outside of the euro zone.

Claudio Borghi, who leads the economic policy of the ruling Lega party, cast doubt over Italy's membership of the single currency on national radio Tuesday. "I am truly convinced that Italy would solve most of its problems if it had its own currency," Borghi said in a radio interview, Reuters reported.

Markets have kept their focus on Italy as the new populist government prepares it first budget. There are concerns that increased public spending will derail the reduction of public debt — which amounts to about 2.3 trillion euros ($2.6 trillion).

The coalition government in Rome is formed by two euroskeptic, anti-establishment parties. Borghi's comments on Italy's membership of the euro zone are not the first to come out of the right-wing Lega party. It has made similar comments in favor of leaving the euro zone before the election in March, but it toned down the rhetoric on the controversial issue as the vote approached. [ Source: CNBC (Read More...) ]

Copyright 1999-2018 Worthy News. All rights reserved.
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

1 thought on “Italy scares markets and Europe, again, with new calls to leave the euro

  1. THAT would be an economic BOON for Italy to leave the E.U. We're working on Greece also.
    Guess what? Italians and Greeks don't want to conform to become French and Germans. Well ... SURPRISE, SURPRISE !

Leave a Comment