, Columnist
Italy Needs a Euro Exit Plan. So Do Other Countries.
Even if the common currency muddles through for now, it will generate future crises.
The tide is not rising.
Photographer: Marco Sabadin/AFP/Getty Images
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While the turmoil in Italy has died down, at least for now, the issue that set it off is sure to provoke more tumult ahead.
The populist coalition that won the last election had proposed to make Paolo Savona, an economist who has said Italy should have a “Plan B” to exit the euro, finance minister. Sergio Mattarella, the country’s president, vetoed the appointment. After initially insisting on Savona, the anti-euro populists have found a different job for him. Markets have calmed, and the new government is proceeding to form itself.