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Italy minister says euro should be dropped Original Source Link: (May no longer be active)    http://reuters.myway.com/article/20050603/2005-06-03T072109Z_01_N03232223_RTRIDST_0_NEWS-ECONOMY-ITALY-EURO-DC.html http://reuters.myway.com/article/20050603/2005-06-03T072109Z_01_N03232223_RTRIDST_0_NEWS-ECONOMY-ITALY-EURO-DC.html Italy minister says should study leaving euro-paper Jun 3, 3:21 AM (ET) ROME (Reuters) - Italy should consider leaving the single currency and reintroducing the lira, Welfare Minister Roberto Maroni said in a newspaper interview on Friday. Maroni, a member of the euro-skeptical Northern League party, told the Repubblica daily Italy should hold a referendum to decide whether to return to the lira, at least temporarily. He also said European Central Bank President Jean-Claude Trichet was one of those chiefly responsible for the "disaster of the euro." The euro "has proved inadequate in the face of the economic slowdown, the loss of competitiveness and the job crisis," Maroni said. In this situation, the answer is to give the government greater power to defend national industry from foreign competition and "to give control over the exchange rate back to the government." Maroni is a front-line government minister but his views are not believed to be shared by those with far greater sway over economic policy, such as Prime Minister Silvio Berlusconi or Economy Minister Domenico Siniscalco. Maroni cited Britain as a virtuous example of a country whose economy "grows and develops, maintaining control over its currency." When it was put to Maroni that Trichet on Thursday dismissed the idea that monetary union could break up, the minister replied: "Sure, he is one of those chiefly responsible for the disaster of the euro." He added Trichet should try to convince hard-pressed small Italian businessmen that the euro was a success. Maroni also dismissed the idea that Italy's struggling economy could face an Argentina-style financial disaster if it abandoned the single currency. "We're already heading toward Argentina, that's why we have to change direction," he said. Three years ago Argentina defaulted on its public debt.

Berlusconi says euro strangling economy Blair destroy euro support { May 10 2003 } Blair push euro referendum { May 16 2003 } Brussels considers imposing currency controls Capt.1052747314.euro_rally_fra109 [jpg] Central banks buying euros instead of dollars { February 2007 } Central banks may buy euro over dollar Cocaine found most euro notes Death 12 nationstates [jpg] Death 12 nationstates { January 2 2002 } Death12 nation states [jpg] Dollar below euro Dollar hits lows vs euro and pound { June 2007 } Dollar loses on euro on ecb rate hike { March 2 2006 } Ecb declines to act on relentless euro { January 9 2004 } ECB hikes rates to 5yr high { March 8 2007 } Ecb limit sales of gold reserves { March 8 2004 } Ecb looks to inflation data { March 7 2004 } Eu bank pressures asia currency rise against dollar { July 5 2003 } EU says bush tax cut endangers world { February 23 2003 } Euro ad [jpg] Euro displaces dollar as preferred bond currency { January 14 2007 } Euro drops because closed US markets dont crash { December 2008 } Euro drops to lowest on french treaty rejection Euro facing major test { September 24 2003 } Euro fresh highs { May 9 2003 } Euro gains after euro pres suggests interest hikes { November 21 2005 } Euro governance { May 23 2001 } Euro hits high Euro is launched { January 2 2002 } Euro world reserves gain on dollar reserves { December 30 2007 } Europe concerns over euro rise Europe unlikely to win agreement halting euro surge France calls on eu to improve ties with china France defies eu rules France in vigilance plea on falling dollar { November 27 2006 } France is top overseas investor in 2005 { June 28 2006 } France questioned by eu partners France wants more currency than eu allows French german leaders agree to bce independence Gold and euro stay coupled says rothschild { June 8 2005 } Gold drops when euro weakens Italy minister says euro should be dropped Lack of control fiscal policy { January 2 2002 } Must support euro { April 22 2003 } Never single currency { May 23 2001 } New all time high against dollar Poll decide euro future { January 5 2002 } Russia may switch foreign exchange reserves into euros { November 23 2004 } Russia pricing oil sales in euros Sweden barely rejects euro { September 14 2003 } Sweden euro poll clash after lindhs death { September 10 2003 } Threatens euro bank { January 5 2003 } Time for europe to defend itself Uk not ready for euro { May 15 2003 } UN report says eu japan will pass US economy { August 2007 } US dollar makes gains on euro Files Listed: 57

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