Italy shows that the Monetary Union is not yet crisis proof

Weidmann from the ECB: Turbulence in the financial market

The European Central Bank legislator and the head of the Central Bank of Germany, Jens Weidmann, recently delivered a speech in Brussels, during which he commented on the latest political drama in Italy and what resembles the shared currency.

Key statements (by Reuters)

The monetary union is not yet permanently crisis-proof.

The turbulence of the financial market in Italy over the past week illustrates that.

It would be "tragic" to reverse the reforms and fiscal consolidation achieved during the crisis.

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