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No risk to Italy from emerging market turbulence-economy minister
January 27, 2014 / 7:00 PM / 4 years ago

No risk to Italy from emerging market turbulence-economy minister

BRUSSELS, Jan 27 (Reuters) - Recent turbulence in emerging markets poses no risk to Italy, considered a flashpoint for instability in the euro zone, Italian Economy Minister Fabrizio Saccomanni said on Monday.

In recent days currencies and stocks in emerging markets in Asia and Eastern Europe have suffered heavy selling, raising fears the global economic recovery could be derailed.

“Absolutely not,” Saccomanni said when asked whether there was a risk of contagion to the euro zone’s third largest economy, which came close to a Greek-style financial meltdown at the height of the currency bloc’s crisis in 2011.

“I don’t see what it has to do with Italy,” he said.

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