July 11, 2018 / 6:49 AM / in 11 days

Italy not considering any plan B for euro exit - deputy PM

ROME, July 11 (Reuters) - Italy is not considering any “plan B” to leave the euro zone, Deputy Prime Minister Luigi Di Maio said on Wednesday.

In a television interview on La7 Di Maio, who leads the anti-establishment 5-Star Movement, also said his party “doesn’t want to leave the euro or to be forced to leave it.”

The government, made up of 5-Star and the right-wing League, will negotiate to change the EU’s fiscal rules to allow Italy to invest more and help finance its economic programme of tax cuts and welfare spending, Di Maio said.

Pressed to comment on remarks on Tuesday by European Affairs Minister Paolo Savona that Italy should be prepared for “all eventualities” regarding the survival of the euro, Di Maio reiterated that quitting the currency was not on the agenda.

“We are not considering any plan B and the government is not working on one,” said Di Maio, who is also Labour and Industry Minister in the government that took office last month.

He said he agreed with Savona that the European Central Bank should be given greater powers over areas including foreign exchange policy.

“We have to modify the statute of the ECB so that it can act as a real central bank,” Di Maio said. (Reporting By Gavin Jones)

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