ECB's Weidmann: Italy market turmoil shows currency union not yet crisis proof

Eren Sengezer FXStreet

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.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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