Kick GERMANY out of Eurozone: Italy’s new ministers launch shock attack on Merkel
ITALY’S new coalition has two ministers who unleashed an astonishing attack on Angela Merkel, demanding Germany be forced to quit the euro. Paolo Savona, 81, the anti-euro economist vetoed by President Sergio Mattarella, launched the attack and his views have been backed by newly-appointed finance minister Giovanni Tria, who said he “fully agrees”.
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Mr Savona, who has been described as “suicidally anti-German” by former finance minister Ignazio Visco, had previously said that Italy doesn’t necessarily need to exit the eurozone to recover from its long-lasting financial struggles - and instead Germany should.
He explained: “It’s Germany that should ditch the euro because its economy’s growing surplus is not compatible with the fixed change rate regime regulating the eurozone.
“Or, at least, it should accept to move to a system that accepts changes to the rates.”
Mr Tria pledged his support to this position, saying in a comment published on news website Formiche.net that this was a “serious economic analysis and not an outburst coming from anti-euro politicians”.
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It’s Germany that should ditch the euro because its economy’s growing surplus is not compatible with the fixed change rate regime regulating the eurozone
Arguing it is “time to abandon many taboos” on the euro, he also said it is now necessary to find “alternative solutions” to how the eurozone is being regulated.
And in another article focused on Germany, Mr Tria added: ”German economy’s growing surplus shows that monetary expansion, without a policy that aids economic convergence between the various countries, merely fuels an imbalance that puts us in conflict with the rest of the world.”
After the appointment as finance minister of Mr Savona was vetoed by President Mattarella, triggering a political crisis that threw markets and the country into chaos, Mr Savona has been chosen as European Affairs minister.
This move could build an anti-German front, as in his new role Mr Savona will negotiate with Brussels and speaking on EU issues abroad while Mr Tria could implement eurosceptic policies in Rome.
Mr Tria, who left the position of head of the Economy Faculty at Rome’s Tor Vergara University to fulfil his ministerial duties, is not new to eurosceptic positions.
Last year he called for a debate on the euro in both Italy and the rest of Europe.
He said: “People who call for unconditionally leaving the euro as a cure for all ills aren’t right, but neither is the European Central Bank President Mario Draghi when he says ‘the euro is irreversible,’ if he doesn’t clarify the conditions and the timing for the reforms which are necessary for its survival.”
Speaking at a conference on May 14, Mr Tria, 69, voiced his support also for the policies that the government led by Giuseppe Conte and populist leaders Lega’s Matteo Salvini and Five Star Movement’s Luigi Di Maio put forward.
Speaking about the low flat tax rate that they want to impose, he said: “The goal of the flat tax coincides with the one of reducing the fiscal pressure as a political condition to lead the growth.”
