Thursday, June 16, 2005

More good news from Italy.

Italians consider trashing euro, returning to lira

Italians, once among the most enthusiastic supporters of a united Europe, are becoming increasingly disillusioned, so much so that some are suggesting that Italy dump the euro and bring back the lira.

Roberto Castelli, the silver-haired Italian justice minister from the Northern League, a major coalition partner in the government of Silvio Berlusconi, said his party will present concrete proposals this week for calling a referendum on ditching the euro.

"Does [the British pound] sterling have no economic foundation because it is outside the euro?" he asked. "Is Denmark living in absolute poverty because it is outside the euro? Are Swedes poor because they are outside the euro?"

Italian discontent with the euro marks the latest crisis to rattle the quest for European unity.

British Prime Minister Tony Blair and French President Jacques Chirac have been locked in a bitter public feud ahead of European budget summit this week and the Continent is reeling from the rejection of a proposed constitution by French and Dutch voters.

A chain of Tuscan supermarkets has been enjoying a surge in business after pledging to accept the lira alongside the euro, cashing in on Italians who blame the single currency for rising prices and a slumping economy.

Slowly but surely, reality sets in.

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