October 2, 2018 / 9:21 AM / a year ago

Euro is no shield against speculation: League lawmaker Borghi

ROME (Reuters) - Italy’s League lawmaker Claudio Borghi said on Tuesday that market reaction to his comments on the euro shows the single currency is no shield against speculation.

Earlier, Italian government bond yields rose sharply after Borghi, a eurosceptic economist who chairs the Budget Committee in the lower house, said in a radio interview that Italy would benefit from more favorable economic conditions if it were outside the euro.

On Twitter Borghi said that the market moving “should make even the doziest understand how ridiculous it is to believe that the strong (single) currency protects from speculation.”

Reporting by Crispian Balmer, writing by Giselda Vagnoni

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