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"Leaving the euro is out of the question"

DPA WORLD
Published June 10,2018
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Reuters

Italy will not be leaving the euro, Italian Finance Minister Giovanni Tria said in an interview with the Corriere della Sera newspaper, published on Sunday.

"The government's position is clear and unanimous," the 69-year-old economics professor said. "Leaving the euro is out of the question."

He continued: "The government is committed at all costs to preventing market conditions that would lead to an exit."

During coalition negotiations between the far-right League and the anti-establishment Five Star Movement (M5S) parties last month, fears were raised that the new government may consider withdrawing from the euro.

The first list of ministers proposed by the parties included Paolo Savona, known for his anti-euro stance, as economy minister - a choice rejected by President Sergio Mattarella.

A leaked draft of the parties' joint agenda suggested they would ask the European Union to open up ways for countries to leave the euro. However, the proposals were not in the final draft.

In the interview, Tria said the government wanted to press ahead with reducing Italy's public debt and addressing the deficit. However, he said the government would do so not through austerity, but by stimulating economic growth.

The government's policy would be "based on structural reforms" which in turn should create better conditions for investment and employment, said Tria.