There will be some relief in the eurozone after Italy’s finance minister has said the new government was “clear and unanimous” in its desire to keep the country inside the euro, as reported by the fT over the weekend.
The article says that “he sought to reassure EU officials and investors about Rome’s economic policies when he said, “We are not discussing any proposal to exit the euro. The government is determined to avoid the materialisation of market conditions that push us towards an exit in any way,” Giovanni Tria, told Corriere della Sera, the Italian daily, on Sunday according to the FT.
Another positive that the FT highlighted, is that in the interview published on Sunday Mr Tria, a 69-year-old professor of economic policy, also vowed that his government would strive to reduce Italy’s debt ratio. At more than 130 per cent of gross domestic product, it is seen as one of the country’s greatest sources of financial vulnerability.
“This is one of the government’s explicit goals . . . there should be no doubts,” he said. “We are not focused on keeping our accounts in order and bringing down the debt because of what Europe tells us, but because we should not undermine trust in our financial stability,” – FT
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