January 25, 2020
Finance

Italexit returns as League official renews euro exit campaign

ROME — Matteo Salvinis far-right League is bringing back its flagship campaign to exit the euro.

The Euroskeptic partys top economic adviser, Claudio Borghi, who also chairs the budget committee in the lower house of Italys parliament, said on television Thursday it would not be “forbidden” to discuss leaving the single currency if the position is supported by “25, 30 percent of voters.”

The League remains Italys most popular party, polling at around 34 percent, even though its not in government. In August, Salvini pulled out of a coalition with the 5Stars, in hopes of triggering an election. But the populist group instead partnered with the center-left Democratic Party (PD).

Salvini in recent weeks stoked opposition to a revamp of the eurozone bailout fund, which some analysts interpreted as a sign of the party reprising the “Italexit” campaign, which had officially been put to bed during its time in the coalition.

“My ideas [on the euro] are well known [but] I did not discuss them during the whole year in government because we signed a government contract with the 5Stars where leaving the single currency was not mentioned,” Borghi said on the live TV show.

Salvini and Borghi argue that the proposed reform of the bailout fund — the European Stability Mechanism (ESM) — would be damaging for Italy by setting more severe terms for any financial aid. The 5Stars backed their position, threatening to block ratification of the treaty amendment.

Italian Finance Minister Roberto Gualtieri, from the PD, on Wednesday tried to persuade his colleagues from around the euro area to reopen negotiationRead More – Source

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