Forex Blog: Currency Trading News & Analysis.

June 2nd 2005

Italy to return to Lira?

In an interview with a prominent Italian newspaper, Italy’s Welfare Minister suggested that Italy abandon the Euro and return to the Lira. While the Minister’s comments do not represent official government policy, he is not alone in his beliefs that the Euro has failed Italy. Italy’s economy, like those of France and Germany, is stagnating. Ironically, one of the few developed nations in Europe to experience economic growth is Britain, which is not a member of Europe’s monetary union. Italy’s welfare minister juxtaposed Italy’s recession with Britain’s growth to underscore the failure of the Euro. He argued Italy’s inability to establish independent fiscal and monetary policies has prevented the nation from recovering economically. The Financial Times reports:

"It’s been three years now that the euro, not through its own fault but because of those who managed the move to the single currency, has shown that it’s not capable of dealing with the slowdown in economic growth, the loss of competitiveness and the employment crisis," he said.

Read More: Italian minister moots return of lira

SocialTwist Tell-a-Friend
Posted by Adam Kritzer | in Euro | No Comments »

Sponsored Offers

FREE Daily Email Updates

Enter your email address:

Delivered by FeedBurner

Have Questions? Want to Share Your Review?

Be heard. Please share your reviews today!

Neighboring Posts

© 2004 - 2018 Forex Blog.org. Currency charts © their sources. While we aim to analyze and try to forceast the forex markets, none of what we publish should be taken as personalized investment advice. Forex exchange rates depend on many factors like monetary policy, currency inflation, and geo-political risks that may not be forseen. Forex trading & investing involves a significant risk of loss.