, Columnist
Italy's Scary Parallel Currency Threat
Parliament’s proposals on so-called mini-BOTs aren’t really a credible threat to the euro, but you can see why they make investors anxious.
Parallel lines?
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It’s hard to think of a more important question for the future of the euro than how committed Rome really is to the single currency.
Italy is the third-biggest economy in the monetary union, and had the bloc’s largest public debt in absolute terms last year. The League and the Five Star Movement, which have run the country in coalition since last June, have excluded any reference to “Ital-exit” in their governing program. But since both parties toyed with the idea of returning to the lira during last year’s national elections, investors are naturally dubious about their true intentions.