Italy’s finance minister has called for deeper eurozone integration in the aftermath of the Greek crisis, saying a move “straight towards political union” is the only way to ensure the survival of the common currency.
Pier Carlo Padoan’s comments reflect how the negotiations that led to this month’s deal on a third bailout of Greece have triggered soul-searching about the future of monetary union.
“The exit and therefore the end of irreversibility is now an option on the table. Let’s not fool ourselves,” he said in an interview. “If we want to take that risk away, then we have to have a different euro — a stronger euro.”
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