Italy’s Deputy Prime Minister and leader of the 5-Star Movement Luigi Di Maio has confirmed that his governing coalition is not planning to hold a referendum on whether the country should abandon the euro currency.
His statement is in response to 5-Star founder, Beppe Grillo’s call for a “plan B” to quit the euro zone if economic conditions dictated and that Italians should vote in a referendum to see if a majority wanted to quit the currency. His comments sent ripples through financial markets.
As reported by the Reuters news agency, Grillo holds no post in the new ruling coalition in which the anti-establishment 5-Star governs with far-right League, yet his remarks may have raised new doubts about Italy’s intention to maintain the single currency.
Asked about a referendum in an interview published in Corriere della Sera on July 29, Di Maio said it was something the government was “sensitive to”, but it was not part of the governing “contract” agreed between the 5-Star and the League.
“This government will not pursue it,” Di Maio told the Milan-based daily.
