Italy's Savona: A single market needs a single currency

Getting in line with EU

Paolo Savona, the new minister for European Affairs, is on the wires saying "if you want a single market, you must have a single currency"

He adds:

  • if you allow currencies to move, to fluctuate inside the single market, you're breaking the unity of the market
  • construction of the euro has to be improved
  • I believe that the city must have a statute on managing the euro. It should have a statute similar to the main central banks including the Federal Reserve
  • asked about plan for euro exit, he said "There is no Plan B, I've never asked to leave the euro"
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