Brussels calls on Italy to stay committed to the 'European path'

Clay Curtis
May 16, 2018

Plans by Italy's populist parties to leave the euro and cancel Italy's debt if they form a government have been condemned as unrealistic by analysts.

This would cut 10 percentage points off Italy's debt/GDP ratio. Italy, along with Greece, has taken the brunt of the Mediterranean migrant crisis and has been credited with saving Europe's honour for its efforts to save lives at sea. Both parties have made clear they intend to fight the EU's Stability Pact.

German taxpayers will again be resentful that they are, in part, picking up the tab for another country's economic mismanagement. In particular, it had been decided "not to call into question the single currency", they said.

The League and Five-Star have held six days of talks aimed at putting together a coalition government to end 10 weeks of political stalemate following an inconclusive election on March 4. "I wasn't born just to make do".

On Wednesday morning Salvini said that negotiations were nearing conclusion, while Di Maio confirmed the two parties could wrap up the "contract of government" within the day.

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5-Star and the League said in a statement that the draft, which was dated May 14, was "an old version that has been considerably modified".

The far-right leader of the Lega, Matteo Salvini, and the leader of the anti-establishment 5-Star Movement (M5S), Luigi Di Maio, talked about European Union "interference" on Tuesday. Salvini also hit back at the Financial Times for comparing the prospect of a League-M5S government to the return to the barbarians to Rome.

Mr Piccoli described the Commission as "very weak and on its way out".

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