Published On: Thu, Aug 22nd, 2019

‘Italy must LEAVE the eurozone!’ League vows to rock Brussels if it wins election | World | News

Amid the erupting political crisis Claudio Borghi the economic spokesperson for Italy’s political party The League has spoken out against the eurozone in an interview released today. Claudio Borghi said the single currency is having a disastrous effect on the county just days after the Prime Minister Giuseppe Conte resigned after accusing his own interior minister, Matteo Salvini, for instigating a “dizzying spiral of political and financial instability”. But Mr Borghi blamed the financial instability on the eurozone in an interview with Capital magazine. Mr Borghi said: “The euro is the wrong currency for Italy and getting out of the single currency would be good for our country.” 

Mr Borghi, who is the chairman of the Budget Committee, said the country will leave the eurozone if his The League party win the next election.

Italy is the third-strongest economic power in the eurozone, with only Germany and France coming ahead. 

But the European Union founding member has struggled to recover from the government debt crisis of 2008 and a new snap election could cause further troubles to both Rome and Brussels. 

Speaking to France 24, an Italian affairs expert said: “There’s a large part of the country pushing for new elections, especially entrepreneurs, and large portions of voters in the north of the country, and Matteo Salvini is representing this part.

Italy joined the eurozone in 1999 under the leadership of Prime Minister Massimo D’Alema of the Democratic Left party. 

In the interview Mr Borghi said after the debt crisis in Europe governments and central banks have repeated “the euro is eternal, the euro is stable, the euro is irreversible”. 

But he said: “Since our country has the euro, this supposed miracle, we have a problem of growth”.

But Mr Borghi is proposing the introduction of the “minibots” – small-denomination treasury bonds used to pay the debts of the public administration. 

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He said minibots would stimulate Italy’s economy.

Mr Borghi said: “If Europe tries to dictate at most 1.5% of deficit GDP then our answer would be no.” 

He said: “We are not seeking a dispute with Brussels. 

“But we will not engage in anything that goes against the interests of our citizens.” 

Inflation in the 19-nation euro currency area plunged by more than one point compared to the same period last year (2.2 percent). 

Additional reporting by Maria Ortega 

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