ECB's Weidmann: Italy market turmoil shows currency union not yet crisis proof
|The European Central Bank policymaker and the head of Germany's central bank, Jens Weidmann, has recently delivered a speech in Brussels, during which he commented on the latest political drama in Italy and what it resembles for the shared currency.
Key quotes (via Reuters)
- The currency union is not yet crisis-proof in a durable way.
- The financial market turbulence in Italy over the past week illustrates that.
- It would be "tragic" if the reforms and fiscal consolidation achieved during the crisis were rolled back.
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